Caisse DE Depot ET Placement DU Quebec Buys Shares of 168,344 Live Nation Entertainment, Inc. $LYV

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Live Nation Entertainment, purchasing 168,344 shares valued at approximately $21.98 million.
• Institutional investors own 74.52% of Live Nation's stock, with significant increases in holdings from firms like Vanguard Group and Massachusetts Financial Services.
• The stock has received a majority of buy ratings from analysts, with an average target price of $168.94, indicating positive sentiment towards the company’s future performance.

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 168,344 shares of the company's stock, valued at approximately $21,982,000. Caisse DE Depot ET Placement DU Quebec owned 0.07% of Live Nation Entertainment at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its position in Live Nation Entertainment by 1.4% during the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock worth $723,000 after purchasing an additional 75 shares during the period. Trust Asset Management LLC lifted its position in Live Nation Entertainment by 5.8% during the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock worth $233,000 after purchasing an additional 98 shares during the period. Callan Family Office LLC lifted its position in Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock worth $732,000 after purchasing an additional 98 shares during the period. Utah Retirement Systems lifted its position in Live Nation Entertainment by 0.4% during the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock worth $3,392,000 after purchasing an additional 100 shares during the period. Finally, HM Payson & Co. lifted its position in Live Nation Entertainment by 9.5% during the first quarter. HM Payson & Co. now owns 1,150 shares of the company's stock worth $150,000 after purchasing an additional 100 shares during the period. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wolfe Research upped their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $168.94.

Live Nation Entertainment Trading Down 0.1%

Shares of Live Nation Entertainment stock traded down $0.18 on Monday, hitting $166.45. The stock had a trading volume of 1,028,099 shares, compared to its average volume of 2,090,487. The stock has a 50 day moving average of $153.60 and a 200 day moving average of $141.85. Live Nation Entertainment, Inc. has a twelve month low of $92.57 and a twelve month high of $167.22. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $39.03 billion, a P/E ratio of 72.05, a PEG ratio of 10.04 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company earned $1.03 EPS. The business's quarterly revenue was up 16.3% compared to the same quarter last year. Sell-side analysts expect 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.