Corient IA LLC Invests $392,000 in Live Nation Entertainment, Inc. $LYV

Corient IA LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,000 shares of the company’s stock, valued at approximately $392,000.

Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Live Nation Entertainment during the first quarter worth $1,153,000. Praxis Investment Management Inc. grew its position in shares of Live Nation Entertainment by 45.2% during the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock worth $726,000 after buying an additional 1,730 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $272,000. Teacher Retirement System of Texas acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $3,081,000. Finally, Personal CFO Solutions LLC acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $277,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $160.59 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock’s fifty day simple moving average is $149.21 and its two-hundred day simple moving average is $140.61. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $162.95. The stock has a market cap of $37.65 billion, a PE ratio of 69.52, a price-to-earnings-growth ratio of 9.71 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $1.03 earnings per share. Live Nation Entertainment’s revenue was up 16.3% on a year-over-year basis. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

LYV has been the subject of several recent analyst reports. Rosenblatt Securities reduced their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Guggenheim reaffirmed a “buy” rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a “positive” rating in a research report on Tuesday, June 10th. Finally, Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.41.

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.