AIA Group Ltd acquired new shares in Live Nation Entertainment, Inc. (NYSE: LYV – Get Rating) in the third quarter, according to the latest Form 13F filed with the Securities and Exchange Commission (SEC). Institutional investors acquired 15,500 shares of the company’s stock valued at approximately $1,179,000.
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Many other hedge funds are also changing their LYV holdings. Raymond James Trust NA increased his stake in Live Nation Entertainment by 4.3% in the first quarter. Raymond James Trust NA now owns 3,139 shares of the company worth $369,000 after acquiring an additional 130 shares during this period. Industrial Alliance Investment Management Inc. increased its stake in Live Nation Entertainment by 21.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 746 shares of the company stock valued at $88,000 after acquiring an additional 132 shares during this period. Empirical Finance LLC increased its stake in Live Nation Entertainment by 6.2% in the second quarter. Empirical Finance LLC now owns 2,518 shares of the company worth $208,000 after acquiring an additional 146 shares during this period. The Oregon Public Employees Retirement Fund increased its Live Nation Entertainment holding by 1.4% in the third quarter. The Oregon Public Employees Retirement Fund now owns 10,889 shares of the company stock valued at $828,000 after acquiring an additional 151 shares during this period. Finally, Whittier Trust Co. increased its stake in Live Nation Entertainment by 6.1% in the third quarter. Whittier Trust Co. now owns 2,791 shares of the company worth $212,000 after acquiring an additional 160 shares during this period. 69.90% of the shares are owned by institutional investors and hedge funds.
In related news, director Jimmy Iovine acquired 13,740 shares of Live Nation Entertainment in a transaction that took place on Thursday, December 1st. Shares were bought at an average of $73.28 per share, with a total trading value of $1,006,867.20 for him. Following the closing of the transaction, the Directors now own 13,740 shares of the Company’s stock valued at approximately $1,006,867.20. The acquisition is disclosed in legal documents to the Securities and Exchange Commission, which can be accessed on his website at the SEC. His 4.01% of shares are now owned by insiders.
Wall Street Analyst Predicts Growth
Many brokerage firms publish reports on LYV. Guggenheim lowered its price target on Live Nation Entertainment from $140.00 to $120.00 and gave the stock a Buy rating in its research report on Friday, October 7. Citigroup upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and lowered its price target to $82.00 from $90.00 in a research report on Monday, November 28. Jefferies Financial Group lowered its price target for Live Nation Entertainment from $120.00 to $92.00 in a research report on Thursday, Dec. 8. StockNews.com upgraded Live Nation Entertainment’s rating from “pending” to “buying” in its research report on Wednesday, October 19th. Finally, Goldman Sachs Group lowered its price target on Live Nation Entertainment from $130.00 to $112.00, giving the stock a Buy rating in its research report on Friday, November 4th. Two research analysts rated the stocks with a holding rating and nine gave the stocks a buy rating. According to MarketBeat.com data, the stock currently has an average rating of “moderate buy” and an average target price of $105.67.
Live Nation Entertainment stock performance
NYSE LYV opened Wednesday at $77.00. The company has a market capitalization of $17.78 billion, a PE ratio of 110.00 and a beta of 1.26. The stock has a 50-day simple moving average of $71.47 and a 200-day simple moving average of $80.65. His one year low at Live Nation Entertainment, Inc. is $65.05 and his one year high is $126.79. The company has a debt to equity ratio of 12.85, a current ratio of 1.04 and a quick ratio of 1.04.
Live Nation Entertainment (NYSE: LYV – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported EPS of $1.39 for the quarter, beating analyst consensus expectations of $1.08 by $0.31. Live Nation Entertainment had a return on equity of 1,222.70% and a net profit margin of 2.01%. The company posted $6.15 billion in revenue for the quarter, compared to consensus expectations of $4.97 billion. As a group, equity research analysts expect Live Nation Entertainment, Inc. to post his 0.53 EPS for the current fiscal year.
Live Nation Entertainment Profile
Live Nation Entertainment, Inc operates as an entertainment company. The company produces, markets and sells live concerts for artists through Global Concert Pipe. It operates through the Concerts, Sponsorships and Advertising, and Ticket Sales segments. The Concert segment is involved in the promotion of live music events at owned or operated venues and rented third-party venues.
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