American International Group Inc. Has $3.68 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

American International Group Inc. boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,330 shares of the company’s stock after acquiring an additional 1,373 shares during the period. American International Group Inc.’s holdings in Live Nation Entertainment were worth $3,681,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LYV. Cantillon Capital Management LLC increased its position in shares of Live Nation Entertainment by 146.6% during the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock valued at $257,101,000 after purchasing an additional 1,632,749 shares during the period. Norges Bank bought a new position in shares of Live Nation Entertainment during the 4th quarter worth about $248,139,000. Artisan Partners Limited Partnership boosted its holdings in Live Nation Entertainment by 7.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after purchasing an additional 153,825 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of Live Nation Entertainment by 52.8% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after purchasing an additional 726,000 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Live Nation Entertainment by 3.5% during the 3rd quarter. Northern Trust Corp now owns 1,413,557 shares of the company’s stock worth $117,382,000 after buying an additional 47,300 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $92.96 on Monday. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 1.88 and a beta of 1.35. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a 50-day moving average price of $93.20 and a 200 day moving average price of $94.27.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer lowered their price target on Live Nation Entertainment from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Rosenblatt Securities increased their target price on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $115.00 in a research report on Thursday, May 9th. TD Cowen reaffirmed a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Finally, Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.58.

About Live Nation Entertainment

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.