Retirement Wealth Solutions LLC Invests $44,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 339 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at $31,000. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter worth about $38,000. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $41,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $42,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $46,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LYV. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Benchmark lifted their price target on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Price Performance

LYV opened at $135.71 on Friday. The company has a market capitalization of $31.53 billion, a P/E ratio of 144.37, a PEG ratio of 1.50 and a beta of 1.38. The company has a 50-day moving average of $133.51 and a 200-day moving average of $113.32. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 1-year low of $86.67 and a 1-year high of $141.18.

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 the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period in the previous year, the company earned $1.78 earnings per share. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

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.