Prairie Wealth Advisors Inc. Invests $211,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Prairie Wealth Advisors Inc. bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,630 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors have also added to or reduced their stakes in LYV. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Live Nation Entertainment by 1.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,067 shares of the company’s stock valued at $2,210,000 after acquiring an additional 219 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Live Nation Entertainment by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 361,048 shares of the company’s stock worth $46,756,000 after purchasing an additional 10,551 shares during the period. Bleakley Financial Group LLC raised its stake in Live Nation Entertainment by 6.3% in the fourth quarter. Bleakley Financial Group LLC now owns 10,498 shares of the company’s stock valued at $1,359,000 after buying an additional 619 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Live Nation Entertainment by 27.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,135 shares of the company’s stock valued at $3,174,000 after buying an additional 5,230 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Live Nation Entertainment by 1,239.5% during the 4th quarter. CENTRAL TRUST Co now owns 576 shares of the company’s stock worth $75,000 after acquiring an additional 533 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on LYV shares. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Evercore ISI raised their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Guggenheim upped their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Bank of America lifted their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $149.73 on Friday. The company has a 50 day moving average of $135.92 and a 200-day moving average of $117.89. The company has a market cap of $34.79 billion, a PE ratio of 159.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. 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 1-year low of $86.81 and a 1-year high of $150.50.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results 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. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the business posted $1.78 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.