Baskin Financial Services Inc. decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,867 shares of the company’s stock after selling 7,128 shares during the period. Live Nation Entertainment accounts for 3.8% of Baskin Financial Services Inc.’s holdings, making the stock its 7th biggest position. Baskin Financial Services Inc. owned 0.15% of Live Nation Entertainment worth $20,388,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of LYV. Exane Derivatives purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $32,000. Captrust Financial Advisors purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $35,000. Hanseatic Management Services Inc. raised its holdings in shares of Live Nation Entertainment by 52.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 1,201 shares of the company’s stock worth $59,000 after buying an additional 411 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Live Nation Entertainment by 6,602.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock worth $72,000 after buying an additional 3,511,969 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $77,000. 69.06% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on LYV shares. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, January 15th. Citigroup lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $59.00 to $63.00 in a research note on Friday, March 15th. They noted that the move was a valuation call. Stephens increased their price objective on shares of Live Nation Entertainment to $70.00 and gave the stock an “overweight” rating in a research note on Friday, March 29th. Finally, ValuEngine lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment has an average rating of “Buy” and a consensus target price of $59.61.
LYV stock traded up $0.48 during midday trading on Monday, hitting $64.94. 657,170 shares of the stock traded hands, compared to its average volume of 1,278,839. The firm has a market cap of $13.59 billion, a PE ratio of -721.00 and a beta of 1.16. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.03 and a current ratio of 1.03. Live Nation Entertainment, Inc. has a 1-year low of $37.92 and a 1-year high of $65.18.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 28th. The company reported ($0.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.08). The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.35 billion. Live Nation Entertainment had a net margin of 0.40% and a return on equity of 3.04%. Research analysts predict that Live Nation Entertainment, Inc. will post 0.44 earnings per share for the current fiscal year.
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About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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