Kentucky Retirement Systems Has $1.14 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Kentucky Retirement Systems lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,775 shares of the company’s stock after selling 577 shares during the period. Kentucky Retirement Systems’ holdings in Live Nation Entertainment were worth $1,140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after buying an additional 110,097 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Live Nation Entertainment by 12.0% in the 1st quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock worth $384,346,000 after purchasing an additional 388,980 shares during the period. Cantillon Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 16.7% in the 1st quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after purchasing an additional 458,893 shares during the period. Norges Bank bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $248,139,000. Finally, Artisan Partners Limited Partnership grew its position in shares of Live Nation Entertainment by 7.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after purchasing an additional 153,825 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $115.00 in a research report on Thursday, May 9th. Roth Mkm restated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Friday, May 24th. TD Cowen reiterated a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities upped their target price on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.58.

Live Nation Entertainment Trading Up 1.9 %

Shares of NYSE:LYV traded up $1.81 during midday trading on Monday, hitting $95.45. 765,345 shares of the stock traded hands, compared to its average volume of 2,193,967. The stock has a market capitalization of $21.93 billion, a PE ratio of 89.18, a P/E/G ratio of 2.09 and a beta of 1.34. The business’s 50 day moving average is $93.90 and its two-hundred day moving average is $94.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company posted ($0.25) earnings per share. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 1.28 earnings per share for the current year.

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.