Principal Securities Inc. Acquires 606 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Principal Securities Inc. raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,701 shares of the company’s stock after purchasing an additional 606 shares during the period. Principal Securities Inc.’s holdings in Live Nation Entertainment were worth $738,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LYV. Creative Planning raised its position in Live Nation Entertainment by 3.2% during the third quarter. Creative Planning now owns 29,405 shares of the company’s stock valued at $3,220,000 after purchasing an additional 904 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after buying an additional 420 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Live Nation Entertainment by 17.7% in the third quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock worth $316,000 after buying an additional 434 shares during the period. Private Advisor Group LLC increased its holdings in shares of Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares during the period. Finally, Hartford Investment Management Co. increased its holdings in shares of Live Nation Entertainment by 8.0% in the third quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock worth $1,082,000 after buying an additional 730 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Macquarie raised their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Morgan Stanley raised their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup lifted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.47.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $152.21 on Friday. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $155.10. The stock’s fifty day moving average is $138.96 and its 200 day moving average is $121.87. The stock has a market cap of $35.37 billion, a P/E ratio of 161.93, a P/E/G ratio of 1.79 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

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.