Scott & Selber Inc. increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,160 shares of the company’s stock after buying an additional 153 shares during the quarter. Live Nation Entertainment accounts for about 1.4% of Scott & Selber Inc.’s portfolio, making the stock its 28th largest position. Scott & Selber Inc.’s holdings in Live Nation Entertainment were worth $2,731,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in LYV. Steward Partners Investment Advisory LLC purchased a new position in Live Nation Entertainment during the 2nd quarter worth $37,000. Point72 Asset Management L.P. acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $80,000. First Mercantile Trust Co. acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $104,000. Massey Quick Simon & CO. LLC acquired a new stake in Live Nation Entertainment during the 3rd quarter worth about $149,000. Finally, Bank of Hawaii acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $200,000. Hedge funds and other institutional investors own 69.02% of the company’s stock.
A number of analysts have commented on LYV shares. Jefferies Financial Group started coverage on Live Nation Entertainment in a research report on Wednesday, October 2nd. They set a “buy” rating and a $84.00 price target for the company. Citigroup cut Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price target for the company. in a research report on Friday, June 28th. Guggenheim lifted their price target on Live Nation Entertainment from $80.00 to $84.00 in a research report on Friday, October 4th. ValuEngine cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley started coverage on Live Nation Entertainment in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.00.
LYV traded up $0.71 on Thursday, reaching $68.44. 21,856 shares of the stock were exchanged, compared to its average volume of 1,276,349. The company’s 50-day moving average price is $68.58 and its 200 day moving average price is $67.15. Live Nation Entertainment, Inc. has a fifty-two week low of $46.02 and a fifty-two week high of $73.71. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $14.47 billion, a PE ratio of -760.78 and a beta of 1.19.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 0.28 earnings per share for the current fiscal year.
In other news, EVP Michael Rowles sold 67,840 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total value of $4,864,806.40. Following the completion of the transaction, the executive vice president now owns 257,691 shares of the company’s stock, valued at approximately $18,479,021.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.82% of the company’s stock.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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