Center For Asset Management LLC Invests $232,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Center For Asset Management LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,789 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank increased its holdings in Live Nation Entertainment by 17.5% during the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after buying an additional 4,761 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in shares of Live Nation Entertainment by 48.3% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock worth $4,798,000 after purchasing an additional 16,668 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Live Nation Entertainment by 59.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,758 shares of the company’s stock worth $2,883,000 after purchasing an additional 11,508 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Live Nation Entertainment by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after purchasing an additional 107,844 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock worth $1,898,000 after buying an additional 13,815 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Roth Mkm increased their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Guggenheim lifted their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Bank of America upped their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $140.68 on Monday. The stock has a market cap of $32.69 billion, a P/E ratio of 149.66, a P/E/G ratio of 1.61 and a beta of 1.38. The stock has a 50-day moving average of $134.60 and a two-hundred day moving average of $115.11. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a one year low of $86.67 and a one year high of $141.18.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 1.02 EPS for the current year.

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.