AIA Group Ltd Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

AIA Group Ltd acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,500 shares of the company’s stock, valued at approximately $1,179,000.

A number of other hedge funds have also modified their holdings of LYV. Raymond James Trust N.A. grew its holdings in Live Nation Entertainment by 4.3% during the first quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock worth $369,000 after acquiring an additional 130 shares during the period. Industrial Alliance Investment Management Inc. grew its holdings in Live Nation Entertainment by 21.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 746 shares of the company’s stock worth $88,000 after acquiring an additional 132 shares during the period. Empirical Finance LLC grew its holdings in Live Nation Entertainment by 6.2% during the second quarter. Empirical Finance LLC now owns 2,518 shares of the company’s stock worth $208,000 after acquiring an additional 146 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Live Nation Entertainment by 1.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 10,889 shares of the company’s stock worth $828,000 after acquiring an additional 151 shares during the period. Finally, Whittier Trust Co. grew its holdings in Live Nation Entertainment by 6.1% during the third quarter. Whittier Trust Co. now owns 2,791 shares of the company’s stock worth $212,000 after acquiring an additional 160 shares during the period. 69.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jimmy Iovine acquired 13,740 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, December 1st. The shares were purchased at an average price of $73.28 per share, for a total transaction of $1,006,867.20. Following the completion of the transaction, the director now owns 13,740 shares in the company, valued at approximately $1,006,867.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYV. Guggenheim lowered their price target on Live Nation Entertainment from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, October 7th. Citigroup upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $90.00 to $82.00 in a research report on Monday, November 28th. Jefferies Financial Group lowered their price target on Live Nation Entertainment from $120.00 to $92.00 in a research report on Thursday, December 8th. StockNews.com upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Finally, The Goldman Sachs Group lowered their price target on Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, November 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.67.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $77.00 on Wednesday. The company has a market cap of $17.78 billion, a PE ratio of 110.00 and a beta of 1.26. The stock’s 50 day simple moving average is $71.47 and its 200-day simple moving average is $80.65. Live Nation Entertainment, Inc. has a 1-year low of $65.05 and a 1-year high of $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 $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. Live Nation Entertainment had a return on equity of 1,222.70% and a net margin of 2.01%. The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 0.53 EPS for the current fiscal year.

Live Nation Entertainment Profile

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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.