Chevy Chase Trust Holdings LLC boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,756 shares of the company's stock after buying an additional 4,056 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Live Nation Entertainment were worth $6,597,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of LYV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Live Nation Entertainment by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company's stock valued at $2,126,000 after purchasing an additional 1,120 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Live Nation Entertainment by 4.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company's stock worth $369,000 after purchasing an additional 130 shares during the last quarter. Cibc World Market Inc. acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth about $421,000. Vontobel Holding Ltd. boosted its position in Live Nation Entertainment by 31.0% in the first quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company's stock valued at $279,000 after buying an additional 559 shares in the last quarter. Finally, Prudential PLC bought a new stake in Live Nation Entertainment during the first quarter worth about $294,000. Institutional investors and hedge funds own 69.90% of the company's stock.
Get Live Nation Entertainment alerts:Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on LYV shares. Rosenblatt Securities cut their target price on shares of Live Nation Entertainment from $138.00 to $101.00 and set a "buy" rating for the company in a research note on Tuesday, October 18th. Jefferies Financial Group reduced their price target on shares of Live Nation Entertainment from $120.00 to $92.00 in a report on Thursday, December 8th. Morgan Stanley decreased their price objective on Live Nation Entertainment from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, November 30th. Guggenheim reduced their target price on shares of Live Nation Entertainment from $140.00 to $120.00 and set a "buy" rating for the company in a report on Friday, October 7th. Finally, StockNews.com raised Live Nation Entertainment from a "hold" rating to a "buy" rating in a report on Wednesday, October 19th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $105.67.
Live Nation Entertainment Trading Up 1.2 %
NYSE:LYV opened at $80.36 on Monday. The firm has a 50-day moving average of $71.97 and a 200-day moving average of $80.58. Live Nation Entertainment, Inc. has a one year low of $65.05 and a one year high of $126.79. The company has a market cap of $18.55 billion, a PE ratio of 114.80 and a beta of 1.26. The company has a debt-to-equity ratio of 12.85, a current ratio of 1.04 and a quick ratio of 1.04.Live Nation Entertainment (NYSE:LYV – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.31. Live Nation Entertainment had a net margin of 2.01% and a return on equity of 1,222.70%. The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $4.97 billion. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 0.53 EPS for the current fiscal year.
Insider Transactions at Live Nation Entertainment
In related news, Director Jimmy Iovine acquired 13,740 shares of the stock in a transaction on Thursday, December 1st. The stock was acquired at an average cost of $73.28 per share, for a total transaction of $1,006,867.20. Following the completion of the acquisition, the director now directly owns 13,740 shares of the company's stock, valued at approximately $1,006,867.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.01% of the company's stock.
Live Nation Entertainment Profile
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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.
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