Exchange Traded Concepts LLC Increases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Exchange Traded Concepts LLC increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 111.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,135 shares of the company’s stock after acquiring an additional 7,969 shares during the period. Exchange Traded Concepts LLC’s holdings in Live Nation Entertainment were worth $1,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $44,000. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $41,000. Morse Asset Management Inc acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $42,000. Finally, SOA Wealth Advisors LLC. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the subject of several recent research reports. Oppenheimer increased their price objective 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. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America increased their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Roth Mkm increased their price objective on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $140.68 on Monday. The stock has a market cap of $32.69 billion, a PE ratio of 149.66, a P/E/G ratio of 1.61 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a twelve month low of $86.67 and a twelve month high of $141.18. The stock has a fifty day simple moving average of $134.60 and a 200-day simple moving average of $115.11.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.02 earnings per share 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.