Kentucky Retirement Systems Has $1.20 Million Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Kentucky Retirement Systems increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% in the third quarter, Holdings Channel reports. The firm owned 10,911 shares of the company’s stock after buying an additional 177 shares during the quarter. Kentucky Retirement Systems’ holdings in Live Nation Entertainment were worth $1,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LYV. Empowered Funds LLC increased its stake in shares of Live Nation Entertainment by 392.4% in the 3rd quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after acquiring an additional 13,815 shares during the last quarter. Empirical Finance LLC grew its holdings in Live Nation Entertainment by 2.3% during the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after purchasing an additional 105 shares during the period. CIBC Asset Management Inc raised its holdings in Live Nation Entertainment by 14.9% in the third quarter. CIBC Asset Management Inc now owns 24,916 shares of the company’s stock worth $2,728,000 after purchasing an additional 3,231 shares during the period. Metis Global Partners LLC boosted its position in shares of Live Nation Entertainment by 7.4% during the third quarter. Metis Global Partners LLC now owns 5,073 shares of the company’s stock worth $555,000 after purchasing an additional 350 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 350,497 shares of the company’s stock valued at $38,376,000 after buying an additional 6,512 shares during the period. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LYV. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Roth Mkm lifted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI increased their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Oppenheimer raised their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Trading Up 2.8 %

NYSE LYV opened at $132.60 on Tuesday. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $132.74. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The stock has a 50 day moving average of $113.54 and a 200-day moving average of $101.09. The company has a market cap of $30.81 billion, a PE ratio of 141.06, a PEG ratio of 3.49 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The trade was a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,799 shares of company stock valued at $16,449,718 over the last 90 days. 2.72% of the stock is currently owned by insiders.

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.