HB Wealth Management LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,779 shares of the company’s stock, valued at approximately $230,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the third quarter worth $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the 3rd quarter worth about $38,000. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $41,000. Morse Asset Management Inc acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment during the fourth quarter worth about $44,000. 74.52% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Evercore ISI increased their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Macquarie upped their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.
Live Nation Entertainment Stock Performance
NYSE LYV opened at $140.68 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a fifty day simple moving average of $134.60 and a 200 day simple moving average of $114.82. Live Nation Entertainment, Inc. has a 12-month low of $86.67 and a 12-month high of $141.18. The company has a market cap of $32.69 billion, a P/E ratio of 149.66, a PEG ratio of 1.61 and a beta of 1.38.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal 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.
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