Kentucky Retirement Systems Insurance Trust Fund Sells 373 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,682 shares of the company’s stock after selling 373 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Live Nation Entertainment were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LYV. SG Americas Securities LLC boosted its stake in shares of Live Nation Entertainment by 112.3% during the 4th quarter. SG Americas Securities LLC now owns 10,850 shares of the company’s stock worth $1,016,000 after acquiring an additional 99,340 shares during the last quarter. Raymond James & Associates increased its position in Live Nation Entertainment by 4.4% in the fourth quarter. Raymond James & Associates now owns 86,784 shares of the company’s stock worth $8,123,000 after buying an additional 3,676 shares in the last quarter. Caprock Group LLC raised its stake in shares of Live Nation Entertainment by 66.0% in the fourth quarter. Caprock Group LLC now owns 4,425 shares of the company’s stock worth $414,000 after buying an additional 1,759 shares during the period. Baskin Financial Services Inc. lifted its position in shares of Live Nation Entertainment by 1.3% during the 4th quarter. Baskin Financial Services Inc. now owns 299,507 shares of the company’s stock valued at $28,034,000 after buying an additional 3,848 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Live Nation Entertainment by 46.3% during the 4th quarter. DAVENPORT & Co LLC now owns 1,141,272 shares of the company’s stock valued at $107,008,000 after acquiring an additional 361,103 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of several analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Oppenheimer reiterated an “outperform” rating and issued a $110.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. cut their target price on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.58.

Live Nation Entertainment Trading Up 2.1 %

LYV traded up $1.93 on Monday, hitting $95.57. The company had a trading volume of 795,604 shares, compared to its average volume of 2,194,177. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The business’s fifty day simple moving average is $93.90 and its 200 day simple moving average is $94.90. The company has a market cap of $21.96 billion, a PE ratio of 89.18, a PEG ratio of 2.09 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted ($0.25) EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.28 EPS for the current 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.