Live Nation Entertainment, Inc. $LYV Shares Purchased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,960 shares of the company’s stock after buying an additional 1,037 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Live Nation Entertainment were worth $3,625,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LYV. Geode Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock worth $639,849,000 after acquiring an additional 156,471 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Live Nation Entertainment by 14.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 26,528 shares of the company’s stock worth $4,013,000 after purchasing an additional 3,272 shares during the period. Comprehensive Financial Planning Inc. PA boosted its position in Live Nation Entertainment by 92.7% during the second quarter. Comprehensive Financial Planning Inc. PA now owns 788 shares of the company’s stock worth $119,000 after purchasing an additional 379 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Live Nation Entertainment in the second quarter valued at approximately $563,000. Finally, Alpha Cubed Investments LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $204,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Morgan Stanley decreased their price objective on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. cut their target price on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Finally, Evercore ISI cut their price objective on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $174.84.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $135.78 on Monday. The company has a market cap of $31.87 billion, a P/E ratio of 58.78, a P/E/G ratio of 12.85 and a beta of 1.37. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The company’s 50-day moving average price is $155.83 and its 200-day moving average price is $151.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 EPS. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.