Retirement Planning Co of New England Inc. Invests $672,000 in Live Nation Entertainment, Inc. $LYV

Key Points

• Retirement Planning Co of New England Inc. acquired 5,145 shares of Live Nation Entertainment, valued at approximately $672,000, indicating growing interest in the company among institutional investors.
• Live Nation Entertainment's recent earnings report showed a net revenue of $7.01 billion, exceeding expectations, although earnings per share fell short of analyst estimates.
• The stock carries a consensus rating of "Buy" from eighteen equities research analysts, with an average price target of $168.94, indicating strong potential for growth.

Retirement Planning Co of New England Inc. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,145 shares of the company's stock, valued at approximately $672,000.

Several other institutional investors also recently modified their holdings of LYV. Nuveen LLC bought a new position in shares of Live Nation Entertainment in the first quarter valued at $201,501,000. Independent Franchise Partners LLP boosted its stake in shares of Live Nation Entertainment by 21.4% during the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock valued at $744,118,000 after buying an additional 1,004,574 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 46.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after purchasing an additional 884,745 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Live Nation Entertainment by 83.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company's stock valued at $207,490,000 after purchasing an additional 723,112 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Live Nation Entertainment by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock valued at $2,596,305,000 after purchasing an additional 713,020 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LYV. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. Wolfe Research upped their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Benchmark upped their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Oppenheimer upped their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Finally, Guggenheim reissued a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Eighteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $168.94.

Live Nation Entertainment Stock Up 0.5%

LYV stock traded up $0.74 during mid-day trading on Thursday, reaching $162.71. The company had a trading volume of 2,449,177 shares, compared to its average volume of 2,439,156. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $154.26 and a two-hundred day simple moving average of $142.16. The company has a market capitalization of $38.15 billion, a price-to-earnings ratio of 70.44, a PEG ratio of 10.04 and a beta of 1.42. Live Nation Entertainment, Inc. has a 52 week low of $92.57 and a 52 week high of $167.94.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.