Raymond James & Associates increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,715 shares of the company’s stock after purchasing an additional 4,036 shares during the period. Raymond James & Associates’ holdings in Live Nation Entertainment were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in Live Nation Entertainment by 85.4% in the 4th quarter. IFP Advisors Inc now owns 3,088 shares of the company’s stock worth $131,000 after purchasing an additional 1,422 shares in the last quarter. US Bancorp DE lifted its stake in Live Nation Entertainment by 379.4% during the 4th quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $165,000 after acquiring an additional 3,062 shares during the period. Global X Management Co. LLC lifted its stake in Live Nation Entertainment by 45.5% during the 4th quarter. Global X Management Co. LLC now owns 4,239 shares of the company’s stock valued at $180,000 after acquiring an additional 1,325 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $209,000. Finally, Santa Monica Partners LP acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $230,000. Institutional investors own 69.08% of the company’s stock.
Shares of NYSE LYV opened at $37.75 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $30.50 and a 12 month high of $49.11. The company has a market cap of $7,858.38, a price-to-earnings ratio of -78.65 and a beta of 0.97.
Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, February 27th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by ($0.04). Live Nation Entertainment had a negative net margin of 0.24% and a negative return on equity of 1.71%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.06 billion. equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.36 earnings per share for the current year.
Several analysts have commented on the stock. JPMorgan Chase set a $51.00 price objective on shares of Live Nation Entertainment and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. ValuEngine upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Guggenheim restated a “buy” rating and set a $53.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, March 1st. Finally, Macquarie restated a “buy” rating and set a $55.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $49.14.
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Live Nation Entertainment Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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