Crossmark Global Holdings Inc. lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,158 shares of the company’s stock after selling 210 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Live Nation Entertainment were worth $1,027,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in Live Nation Entertainment by 6,602.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock valued at $72,000 after buying an additional 3,511,969 shares in the last quarter. Findlay Park Partners LLP grew its holdings in Live Nation Entertainment by 56.8% during the 4th quarter. Findlay Park Partners LLP now owns 5,077,885 shares of the company’s stock valued at $250,086,000 after buying an additional 1,838,753 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Live Nation Entertainment by 15.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 10,823,188 shares of the company’s stock valued at $532,997,000 after buying an additional 1,456,888 shares in the last quarter. Norges Bank purchased a new position in Live Nation Entertainment during the 4th quarter valued at approximately $63,908,000. Finally, BlackRock Inc. grew its holdings in Live Nation Entertainment by 3.9% during the 4th quarter. BlackRock Inc. now owns 14,273,694 shares of the company’s stock valued at $702,980,000 after buying an additional 531,854 shares in the last quarter. Hedge funds and other institutional investors own 69.97% of the company’s stock.
Several equities analysts have weighed in on LYV shares. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, January 15th. Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price objective for the company from $59.00 to $63.00 in a research note on Friday, March 15th. They noted that the move was a valuation call. Stephens raised their price objective on Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a research note on Friday, March 29th. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Finally, Berenberg Bank began coverage on Live Nation Entertainment in a research note on Tuesday. They issued a “buy” rating and a $73.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment presently has an average rating of “Buy” and an average price target of $62.00.
NYSE:LYV opened at $64.15 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $42.40 and a 1 year high of $67.00. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 0.94.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.59 billion. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned ($0.24) EPS. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.27 EPS for the current fiscal year.
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Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
Further Reading: What is Depreciation?
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