Trust Co. of Oklahoma Acquires Shares of 3,613 Live Nation Entertainment, Inc. (NYSE:LYV)

Trust Co. of Oklahoma bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,613 shares of the company’s stock, valued at approximately $382,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LYV. Creative Financial Designs Inc. ADV raised its holdings in shares of Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at about $33,000. Rise Advisors LLC raised its holdings in shares of Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares during the last quarter. Tobam purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $59,000. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Live Nation Entertainment by 238.1% in the first quarter. SOA Wealth Advisors LLC. now owns 852 shares of the company’s stock valued at $90,000 after buying an additional 600 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYV has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Oppenheimer reissued an “outperform” rating and set a $110.00 price target on shares of Live Nation Entertainment in a report on Tuesday, June 25th. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Finally, TD Cowen reissued a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment Price Performance

Shares of LYV stock traded down $1.89 during trading hours on Wednesday, hitting $94.81. The company’s stock had a trading volume of 1,992,550 shares, compared to its average volume of 2,274,919. The business has a fifty day moving average of $93.37 and a 200-day moving average of $94.45. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 90.30, a P/E/G ratio of 1.92 and a beta of 1.34. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) earnings per share. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.37 EPS for the current year.

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.