Spire Wealth Management Acquires 549 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Spire Wealth Management grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,210 shares of the company’s stock after purchasing an additional 549 shares during the period. Spire Wealth Management’s holdings in Live Nation Entertainment were worth $545,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ValueAct Holdings L.P. purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $111,094,000. PointState Capital LP bought a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Live Nation Entertainment by 55.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after purchasing an additional 385,143 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.9 %

NYSE LYV opened at $149.45 on Thursday. The stock has a market cap of $34.72 billion, a PE ratio of 158.99, a P/E/G ratio of 1.67 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 12 month low of $86.67 and a 12 month high of $150.30. The stock’s 50 day moving average is $135.72 and its 200 day moving average is $117.67.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. Research analysts predict that Live Nation Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LYV. Bank of America increased their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Citigroup raised their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Macquarie boosted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.40.

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.