Procyon Advisors LLC Acquires 514 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Procyon Advisors LLC boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,049 shares of the company’s stock after acquiring an additional 514 shares during the quarter. Procyon Advisors LLC’s holdings in Live Nation Entertainment were worth $1,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Select Equity Group L.P. grew its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after buying an additional 155,920 shares during the period. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the period. Finally, D1 Capital Partners L.P. raised its position in shares of Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $135.71 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a fifty day simple moving average of $133.51 and a two-hundred day simple moving average of $113.32. Live Nation Entertainment, Inc. has a 12 month low of $86.67 and a 12 month high of $141.18. The firm has a market capitalization of $31.53 billion, a PE ratio of 144.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LYV. Macquarie increased their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Guggenheim lifted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Benchmark boosted their price objective on Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment 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.