Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Teachers Retirement System of The State of Kentucky lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,101 shares of the company’s stock after selling 611 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Live Nation Entertainment were worth $1,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LYV. Creative Financial Designs Inc. ADV grew its position in shares of Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Live Nation Entertainment by 9,800.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after buying an additional 490 shares in the last quarter. Tobam bought a new position in shares of Live Nation Entertainment during the fourth quarter worth $59,000. Finally, Western Pacific Wealth Management LP grew its stake in Live Nation Entertainment by 15.8% during the fourth quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock valued at $92,000 after acquiring an additional 134 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 0.7 %

Shares of NYSE LYV opened at $92.96 on Monday. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. The firm has a 50-day simple moving average of $93.20 and a two-hundred day simple moving average of $94.27. The company has a market cap of $21.36 billion, a P/E ratio of 88.53, a PEG ratio of 1.88 and a beta of 1.35. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $3.26 billion. During the same period in the prior year, the business posted ($0.25) earnings per share. Live Nation Entertainment’s revenue was up 21.5% on a year-over-year basis. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Rosenblatt Securities increased their price objective on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer dropped their price target on Live Nation Entertainment from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Redburn Atlantic raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, TD Cowen reiterated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $115.58.

Live Nation Entertainment 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.