Fifth Third Bancorp Has $571,000 Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Fifth Third Bancorp lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,407 shares of the company’s stock after selling 384 shares during the period. Fifth Third Bancorp’s holdings in Live Nation Entertainment were worth $571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Live Nation Entertainment during the 3rd quarter worth $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment during the third quarter worth about $38,000. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $41,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $44,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 1.1 %

LYV stock opened at $144.10 on Friday. 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 fifty-two week low of $86.67 and a fifty-two week high of $144.80. The stock’s 50 day simple moving average is $135.15 and its 200 day simple moving average is $116.12. The company has a market cap of $33.48 billion, a P/E ratio of 153.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the business earned $1.78 EPS. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the topic of a number of recent research reports. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Evercore ISI lifted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Macquarie increased their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Benchmark upped their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Guggenheim raised their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.40.

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.