National Pension Service Buys 3,743 Shares of Live Nation Entertainment, Inc. $LYV

National Pension Service grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 283,066 shares of the company’s stock after acquiring an additional 3,743 shares during the period. National Pension Service owned about 0.12% of Live Nation Entertainment worth $46,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LYV. Norges Bank purchased a new position in Live Nation Entertainment during the 2nd quarter worth $198,336,000. Vanguard Group Inc. grew its position in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after buying an additional 423,541 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Live Nation Entertainment during the second quarter valued at $54,126,000. Westfield Capital Management Co. LP increased its stake in shares of Live Nation Entertainment by 110.2% during the second quarter. Westfield Capital Management Co. LP now owns 677,730 shares of the company’s stock valued at $102,527,000 after buying an additional 355,279 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 771.5% in the second quarter. AQR Capital Management LLC now owns 302,587 shares of the company’s stock valued at $45,542,000 after acquiring an additional 267,868 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Jefferies Financial Group downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Susquehanna boosted their price objective on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Monday, December 29th. Finally, Rothschild & Co Redburn cut their price target on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Seventeen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $172.55.

Live Nation Entertainment Trading Down 1.0%

NYSE:LYV opened at $144.00 on Tuesday. The stock has a market capitalization of $33.80 billion, a price-to-earnings ratio of 104.35, a PEG ratio of 9.60 and a beta of 1.20. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. The firm has a 50 day moving average of $141.73 and a 200 day moving average of $150.22.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.