Louisiana State Employees Retirement System Invests $805,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Louisiana State Employees Retirement System bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,600 shares of the company’s stock, valued at approximately $805,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LYV. CWM LLC lifted its holdings in shares of Live Nation Entertainment by 14.5% during the third quarter. CWM LLC now owns 1,948 shares of the company’s stock worth $162,000 after buying an additional 246 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth $236,000. Caprock Group LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth $221,000. Czech National Bank increased its position in shares of Live Nation Entertainment by 45.4% in the third quarter. Czech National Bank now owns 24,780 shares of the company’s stock worth $2,058,000 after purchasing an additional 7,743 shares during the period. Finally, Jmac Enterprises LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth $202,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $89.83 on Friday. The business’s 50-day moving average price is $98.87 and its 200-day moving average price is $91.52. Live Nation Entertainment, Inc. has a 12 month low of $65.20 and a 12 month high of $107.24. The firm has a market capitalization of $20.73 billion, a price-to-earnings ratio of 67.54 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Oppenheimer lifted their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Rosenblatt Securities decreased their target price on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Morgan Stanley lifted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Roth Capital upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.30.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.85% of the company’s stock.

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.