Strs Ohio Invests $3.74 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Strs Ohio acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 40,000 shares of the company’s stock, valued at approximately $3,744,000.

A number of other large investors also recently modified their holdings of LYV. Vontobel Holding Ltd. raised its holdings in shares of Live Nation Entertainment by 178.2% during the 4th quarter. Vontobel Holding Ltd. now owns 16,850 shares of the company’s stock valued at $1,577,000 after buying an additional 10,794 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $805,000. Cerity Partners LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $796,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $374,000. Finally, Tobam purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $59,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of several analyst reports. Roth Mkm upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $114.00 in a report on Friday, January 12th. Morgan Stanley raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer raised their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Rosenblatt Securities lowered their price objective on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, Roth Capital upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Live Nation Entertainment Price Performance

Shares of LYV opened at $89.64 on Friday. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of 67.40 and a beta of 1.30. The stock has a 50 day moving average of $99.01 and a 200-day moving average of $91.35. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment, Inc. has a 52 week low of $64.96 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $4.72 billion. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.