Empirical Asset Management LLC Takes $925,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Empirical Asset Management LLC purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, Holdings Channel reports. The fund purchased 7,142 shares of the company’s stock, valued at approximately $925,000.

Several other hedge funds have also added to or reduced their stakes in LYV. Frank Rimerman Advisors LLC bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth $748,000. Select Equity Group L.P. lifted its stake in Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. Davidson Kempner Capital Management LP bought a new position in Live Nation Entertainment during the second quarter worth about $3,985,000. Czech National Bank grew its position in shares of Live Nation Entertainment by 17.5% during the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after buying an additional 4,761 shares during the period. Finally, 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 valued at $4,798,000 after acquiring an additional 16,668 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LYV. JPMorgan Chase & Co. boosted 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. TD Cowen boosted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Benchmark raised their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Trading Up 1.6 %

Live Nation Entertainment stock opened at $135.71 on Friday. The company has a market cap of $31.53 billion, a price-to-earnings ratio of 144.37, a P/E/G ratio of 1.50 and a beta of 1.38. The firm has a 50-day moving average of $133.51 and a 200-day moving average of $113.44. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick 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 posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the company earned $1.78 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal 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.