Golden State Wealth Management LLC Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Golden State Wealth Management LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 321 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors have also modified their holdings of LYV. Principal Financial Group Inc. grew its position in 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 boosted its position in shares of Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after buying an additional 321,832 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Live Nation Entertainment by 37.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after purchasing an additional 385,143 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Finally, ValueAct Holdings L.P. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at about $111,094,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Down 0.4 %

LYV opened at $146.68 on Wednesday. The business has a 50 day moving average price of $136.50 and a 200 day moving average price of $119.36. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $152.11. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $34.08 billion, a P/E ratio of 156.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) 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 return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 earnings per share. Research analysts forecast that Live Nation Entertainment, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on LYV. Oppenheimer boosted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. TD Cowen upped their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Macquarie lifted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average 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.