Retirement Wealth Solutions LLC Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 339 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds have also recently modified their holdings of LYV. Dimensional Fund Advisors LP grew its position in shares of Live Nation Entertainment by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 894,019 shares of the company’s stock valued at $83,780,000 after purchasing an additional 51,397 shares during the period. Amalgamated Bank increased its stake in shares of Live Nation Entertainment by 3.4% in the 2nd quarter. Amalgamated Bank now owns 31,845 shares of the company’s stock worth $2,985,000 after acquiring an additional 1,038 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Live Nation Entertainment by 11.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,059 shares of the company’s stock valued at $833,000 after purchasing an additional 901 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares during the period. Finally, Symmetry Investments LP increased its holdings in shares of Live Nation Entertainment by 207.3% during the 2nd quarter. Symmetry Investments LP now owns 46,089 shares of the company’s stock worth $4,320,000 after buying an additional 31,089 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 1.6 %

Shares of NYSE:LYV opened at $135.71 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $141.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s 50-day simple moving average is $133.51 and its 200-day simple moving average is $113.32. The company has a market cap of $31.53 billion, a price-to-earnings ratio of 144.37, a PEG ratio of 1.50 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Benchmark boosted their price target on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Guggenheim boosted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup raised their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, TD Cowen increased their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.