Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.4% in the 1st quarter, HoldingsChannel reports. The firm owned 4,682 shares of the company’s stock after selling 373 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Live Nation Entertainment were worth $495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYV. Czech National Bank increased its holdings in shares of Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC raised its stake in Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake in shares of Live Nation Entertainment by 15.8% in the fourth quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock valued at $92,000 after buying an additional 134 shares during the period. Spire Wealth Management increased its position in shares of Live Nation Entertainment by 5.4% during the fourth quarter. Spire Wealth Management now owns 2,833 shares of the company’s stock valued at $258,000 after purchasing an additional 145 shares during the period. Finally, Gabelli Funds LLC raised its stake in shares of Live Nation Entertainment by 0.3% in the 4th quarter. Gabelli Funds LLC now owns 48,650 shares of the company’s stock valued at $4,554,000 after buying an additional 150 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LYV. Rosenblatt Securities upped their target price on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Roth Mkm reissued a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Redburn Atlantic raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the stock from $114.00 to $115.00 in a research report on Thursday, May 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.58.

Live Nation Entertainment Stock Performance

Shares of LYV stock traded up $1.93 during trading on Monday, reaching $95.57. 795,604 shares of the company’s stock were exchanged, compared to its average volume of 2,194,177. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24. The firm’s fifty day moving average price is $93.90 and its 200-day moving average price is $94.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a market capitalization of $21.96 billion, a PE ratio of 89.18, a PEG ratio of 2.09 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. Live Nation Entertainment’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.28 EPS for the current year.

About Live Nation Entertainment

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.