Blue Trust Inc. Boosts Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Blue Trust Inc. grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 21.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 644 shares of the company’s stock after buying an additional 115 shares during the period. Blue Trust Inc.’s holdings in Live Nation Entertainment were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Brooklyn Investment Group acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $31,000. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $41,000. Morse Asset Management Inc acquired a new stake in Live Nation Entertainment during the 3rd quarter worth $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV opened at $148.38 on Friday. The firm has a market capitalization of $34.48 billion, a PE ratio of 157.85, a P/E/G ratio of 1.67 and a beta of 1.38. The stock’s 50 day moving average is $136.12 and its two-hundred day moving average is $118.26. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $152.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Oppenheimer lifted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen lifted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America increased their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.40.

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.