CacheTech Inc. Takes Position in Live Nation Entertainment, Inc. $LYV

Key Points

• CacheTech Inc. purchased 1,971 shares of Live Nation Entertainment, Inc. in the first quarter, valued at approximately $255,000.
• Live Nation Entertainment's stock has a current market cap of $37.65 billion and recent earnings showed a revenue of $7.01 billion, exceeding analyst estimates.
• Research analysts have raised their price targets for Live Nation, with a consensus rating of "Moderate Buy" and a price target of $167.41.

CacheTech Inc. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,971 shares of the company's stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Corient IA LLC bought a new stake in Live Nation Entertainment during the 1st quarter worth approximately $392,000. Adams Wealth Management bought a new stake in Live Nation Entertainment during the 1st quarter worth approximately $255,000. Ethic Inc. increased its stake in Live Nation Entertainment by 24.0% during the 1st quarter. Ethic Inc. now owns 29,074 shares of the company's stock worth $3,838,000 after purchasing an additional 5,629 shares in the last quarter. Aberdeen Group plc increased its stake in Live Nation Entertainment by 114.6% during the 1st quarter. Aberdeen Group plc now owns 90,001 shares of the company's stock worth $11,716,000 after purchasing an additional 48,062 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Live Nation Entertainment by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,067,785 shares of the company's stock worth $139,332,000 after purchasing an additional 83,182 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded down $0.8410 during mid-day trading on Wednesday, hitting $162.0590. 1,836,835 shares of the company's stock traded hands, compared to its average volume of 2,500,783. The firm has a 50 day simple moving average of $149.97 and a two-hundred day simple moving average of $140.89. Live Nation Entertainment, Inc. has a fifty-two week low of $92.57 and a fifty-two week high of $164.06. The stock has a market cap of $38.00 billion, a price-to-earnings ratio of 70.16, a P/E/G ratio of 9.78 and a beta of 1.46. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LYV shares. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research report on Thursday, July 24th. Roth Mkm cut their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Guggenheim reissued a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Oppenheimer increased their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Finally, Benchmark increased their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 8th. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Buy" and an average target price of $168.94.

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.