Kentucky Retirement Systems Sells 148 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Kentucky Retirement Systems lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,763 shares of the company’s stock after selling 148 shares during the period. Kentucky Retirement Systems’ holdings in Live Nation Entertainment were worth $1,394,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the third quarter valued at about $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $41,000. Morse Asset Management Inc bought a new stake in Live Nation Entertainment in the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $149.37 on Monday. The company’s fifty day moving average price is $139.23 and its 200-day moving average price is $122.75. The stock has a market cap of $34.71 billion, a PE ratio of 54.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Macquarie upped their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley raised their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Guggenheim increased their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $154.27.

Live Nation Entertainment 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.