Shell Asset Management Co. Buys New Shares in Live Nation Entertainment, Inc. (NYSE:LYV)

Shell Asset Management Co. bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYVFree Report) during the fourth quarter, Holdings Channel reports. The institutional investor bought 12,711 shares of the company’s stock, valued at approximately $1,190,000.

Several other institutional investors have also recently bought and sold shares of the business. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Live Nation Entertainment during the fourth quarter worth $402,000. Epoch Investment Partners Inc. raised its holdings in Live Nation Entertainment by 65.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 478,718 shares of the company’s stock worth $44,808,000 after buying an additional 189,987 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in Live Nation Entertainment by 36.2% during the fourth quarter. Vinva Investment Management Ltd now owns 4,786 shares of the company’s stock worth $450,000 after buying an additional 1,272 shares during the last quarter. Cibc World Markets Corp raised its holdings in Live Nation Entertainment by 38.4% during the fourth quarter. Cibc World Markets Corp now owns 99,698 shares of the company’s stock worth $9,332,000 after buying an additional 27,677 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in Live Nation Entertainment by 0.3% during the fourth quarter. Gabelli Funds LLC now owns 48,650 shares of the company’s stock worth $4,554,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

LYV opened at $89.75 on Tuesday. The firm has a market cap of $20.62 billion, a P/E ratio of 85.48, a PEG ratio of 1.85 and a beta of 1.35. The firm has a 50-day moving average of $95.37 and a 200 day moving average of $93.86. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24.

Live Nation Entertainment (NYSE:LYVGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. Live Nation Entertainment’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.25) EPS. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LYV shares. Oppenheimer lowered their price objective on shares of Live Nation Entertainment from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their target price on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Roth Mkm reiterated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Friday, May 24th. Finally, Morgan Stanley increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.58.

Check Out Our Latest Stock Report on Live Nation Entertainment

About Live Nation Entertainment

(Free Report)

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.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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