Western Pacific Wealth Management LP Buys 82 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Western Pacific Wealth Management LP raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 867 shares of the company’s stock after buying an additional 82 shares during the period. Western Pacific Wealth Management LP’s holdings in Live Nation Entertainment were worth $112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Czech National Bank grew its position in Live Nation Entertainment by 17.5% during the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after acquiring an additional 4,761 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Live Nation Entertainment by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after purchasing an additional 107,844 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after buying an additional 13,815 shares during the period. Natixis Advisors LLC raised its holdings in Live Nation Entertainment by 12.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after buying an additional 7,136 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $441,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $144.64 on Friday. The firm has a market capitalization of $33.61 billion, a P/E ratio of 153.87, a P/E/G ratio of 1.65 and a beta of 1.38. The firm’s 50-day moving average price is $135.23 and its 200-day moving average price is $116.57. 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 1-year low of $86.67 and a 1-year high of $145.33.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the business earned $1.78 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Roth Mkm lifted their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Bank of America increased their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Cowen increased their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $145.40.

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.