Kentucky Retirement Systems Purchases 177 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Kentucky Retirement Systems increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,911 shares of the company’s stock after acquiring an additional 177 shares during the quarter. Kentucky Retirement Systems’ holdings in Live Nation Entertainment were worth $1,195,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $41,000. Cromwell Holdings LLC grew its stake in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares during the last quarter. UMB Bank n.a. increased its position in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares during the period. Finally, Family Firm Inc. acquired a new position in Live Nation Entertainment during the 2nd quarter valued at $42,000. 74.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now directly owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,799 shares of company stock worth $16,449,718 in the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $132.60 on Tuesday. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 141.06, a PEG ratio of 3.49 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $132.74. The company has a 50 day moving average of $113.54 and a 200-day moving average of $101.09.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Oppenheimer boosted their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America raised their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Benchmark lifted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

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.