6,369 Shares in Live Nation Entertainment, Inc. $LYV Bought by Allstate Corp

Allstate Corp purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,369 shares of the company’s stock, valued at approximately $1,041,000.

Several other hedge funds have also recently made changes to their positions in the business. Clearstead Trust LLC increased its holdings in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $33,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $37,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Live Nation Entertainment in the second quarter valued at $56,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Down 0.6%

Shares of NYSE:LYV opened at $139.84 on Thursday. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The company has a market capitalization of $32.83 billion, a PE ratio of 101.33, a price-to-earnings-growth ratio of 9.25 and a beta of 1.20. The business has a fifty day moving average price of $139.48 and a two-hundred day moving average price of $150.25. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.Live Nation Entertainment’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LYV shares. Rothschild & Co Redburn cut their price objective on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a research note on Friday, January 2nd. Guggenheim lowered their target price on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $173.30.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.