Invesco LLC Acquires New Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Invesco LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,773 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of Live Nation Entertainment by 17.5% in the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after buying an additional 4,761 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Live Nation Entertainment by 48.3% in the second quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock worth $4,798,000 after acquiring an additional 16,668 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Live Nation Entertainment by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after acquiring an additional 107,844 shares during the period. Empowered Funds LLC boosted its holdings in shares of Live Nation Entertainment by 392.4% during the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock worth $1,898,000 after purchasing an additional 13,815 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Live Nation Entertainment by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after acquiring an additional 7,136 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

LYV traded up $0.47 during trading hours on Wednesday, hitting $142.90. The company’s stock had a trading volume of 56,261 shares, compared to its average volume of 1,610,857. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $143.50. The company has a 50-day simple moving average of $134.91 and a 200 day simple moving average of $115.73. The firm has a market capitalization of $33.20 billion, a PE ratio of 151.91, a PEG ratio of 1.61 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued 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. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.02 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on LYV. Macquarie lifted their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Roth Mkm increased their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. TD Cowen boosted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup lifted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Benchmark increased their price target on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

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.