ING Groep NV Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

ING Groep NV purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 15,782 shares of the company’s stock, valued at approximately $2,044,000.

Several other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 107,844 shares during the period. Empowered Funds LLC grew 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 worth $1,898,000 after purchasing an additional 13,815 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Live Nation Entertainment by 12.0% during the third quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after purchasing an additional 7,136 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Live Nation Entertainment in the third quarter worth about $441,000. Finally, Friedenthal Financial acquired a new position in Live Nation Entertainment during the 4th quarter valued at about $754,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE LYV opened at $149.37 on Monday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The stock’s 50-day moving average is $139.23 and its two-hundred day moving average is $122.75. The firm has a market cap of $34.71 billion, a P/E ratio of 54.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Macquarie raised their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Oppenheimer upped their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Rosenblatt Securities restated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price 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.