Independence Bank of Kentucky Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Independence Bank of Kentucky acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 350 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the third quarter worth $31,000. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $38,000. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the third quarter valued at about $41,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment in the third quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYV has been the subject of several research analyst reports. Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Macquarie raised their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, TD Cowen raised their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Trading Up 0.4 %

Shares of NYSE:LYV opened at $144.64 on Monday. 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 firm has a market capitalization of $33.61 billion, a P/E ratio of 153.87, a P/E/G ratio of 1.65 and a beta of 1.38. The business’s 50-day moving average is $135.23 and its 200 day moving average is $116.71. Live Nation Entertainment, Inc. has a 1 year low of $86.67 and a 1 year high of $145.33.

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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for 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. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts predict that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal 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.