Cigna Investments Inc. New Invests $213,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Cigna Investments Inc. New acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,645 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $31,000. World Investment Advisors LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $38,000. Reston Wealth Management LLC acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at about $41,000. Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $146.68 on Wednesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $34.08 billion, a price-to-earnings ratio of 156.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The business has a 50-day moving average of $136.50 and a 200 day moving average of $119.36. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $152.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share 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 business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LYV shares. 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 report on Thursday, November 14th. Citigroup boosted their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Macquarie raised their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, TD Cowen upped their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Company 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.