Kentucky Retirement Systems Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Kentucky Retirement Systems reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,763 shares of the company’s stock after selling 148 shares during the period. Kentucky Retirement Systems’ holdings in Live Nation Entertainment were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after acquiring an additional 105,648 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after purchasing an additional 385,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after buying an additional 387,008 shares in the last quarter. Finally, ValueAct Holdings L.P. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $111,094,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LYV has been the subject of several recent research reports. Roth Mkm lifted their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Macquarie boosted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. TD Cowen lifted 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 note on Tuesday, November 12th. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $154.27.

Live Nation Entertainment Stock Performance

LYV stock opened at $149.37 on Monday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The business has a 50-day moving average price of $139.23 and a 200 day moving average price of $122.75. The company has a market capitalization of $34.71 billion, a P/E ratio of 54.92, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.