Public Employees Retirement Association of Colorado Sells 1,011 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Public Employees Retirement Association of Colorado lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% during the 1st quarter, Holdings Channel reports. The firm owned 243,094 shares of the company’s stock after selling 1,011 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Live Nation Entertainment were worth $25,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. purchased a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $32,000. Rise Advisors LLC raised its position in Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Live Nation Entertainment by 44.1% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares in the last quarter. Tobam bought a new position in shares of Live Nation Entertainment in the 4th quarter worth $59,000. Finally, SOA Wealth Advisors LLC. raised its position in shares of Live Nation Entertainment by 238.1% in the 1st quarter. SOA Wealth Advisors LLC. now owns 852 shares of the company’s stock worth $90,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LYV. Deutsche Bank Aktiengesellschaft boosted their target price on Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Morgan Stanley reiterated an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Rosenblatt Securities boosted their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment Price Performance

NYSE LYV traded up $1.82 during trading hours on Monday, reaching $95.46. The company’s stock had a trading volume of 1,010,920 shares, compared to its average volume of 2,195,672. The firm has a market capitalization of $21.93 billion, a price-to-earnings ratio of 89.18, a P/E/G ratio of 2.09 and a beta of 1.34. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50-day moving average is $93.90 and its two-hundred day moving average is $94.90.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned ($0.25) EPS. The business’s revenue was up 21.5% compared to the same quarter last year. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.28 EPS for the current year.

About Live Nation Entertainment

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.