Park Avenue Securities LLC Takes Position in Live Nation Entertainment, Inc. $LYV

Park Avenue Securities LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,936 shares of the company’s stock, valued at approximately $444,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gilbert & Cook Inc. grew its stake in Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after purchasing an additional 75 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Live Nation Entertainment by 1.8% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after purchasing an additional 97 shares during the last quarter. Trust Asset Management LLC increased its position in Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock valued at $233,000 after acquiring an additional 98 shares during the period. Callan Family Office LLC increased its position in Live Nation Entertainment by 1.8% in the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock valued at $732,000 after acquiring an additional 98 shares during the period. Finally, HM Payson & Co. increased its position in Live Nation Entertainment by 9.5% in the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company’s stock valued at $150,000 after acquiring an additional 100 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYV has been the topic of several recent analyst reports. Benchmark boosted their target price on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Rothschild Redb lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the company a “positive” rating in a research note on Tuesday, June 10th. Moffett Nathanson assumed coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price target on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.21.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $164.67 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The firm’s 50-day moving average price is $161.09 and its two-hundred day moving average price is $145.83. Live Nation Entertainment, Inc. has a 52-week low of $107.65 and a 52-week high of $175.25. The stock has a market capitalization of $38.61 billion, a P/E ratio of 71.28, a P/E/G ratio of 10.91 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $1.03 EPS. The business’s revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current 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.