Capital Investment Counsel Inc Grows Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Capital Investment Counsel Inc raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,595 shares of the company’s stock after buying an additional 500 shares during the quarter. Capital Investment Counsel Inc’s holdings in Live Nation Entertainment were worth $430,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board grew its holdings in shares of Live Nation Entertainment by 5.1% in the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after acquiring an additional 429,650 shares during the period. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after acquiring an additional 33,215 shares in the last quarter. Findlay Park Partners LLP lifted its position in shares of Live Nation Entertainment by 55.1% in the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after acquiring an additional 1,087,264 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Live Nation Entertainment by 5.7% in the third quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock worth $221,858,000 after buying an additional 144,326 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after acquiring an additional 726,000 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LYV. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Roth Mkm reaffirmed a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Oppenheimer increased their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Rosenblatt Securities dropped their price objective on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Finally, TD Cowen restated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.30.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $90.54 on Tuesday. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 68.08 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average of $98.82 and a 200 day moving average of $91.62. Live Nation Entertainment, Inc. has a 1 year low of $66.38 and a 1 year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is owned by insiders.

About Live Nation Entertainment

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.