Corient IA LLC Makes New Investment in Live Nation Entertainment, Inc. $LYV

Key Points

• Corient IA LLC has invested $392,000 in Live Nation Entertainment, acquiring 3,000 shares of the company in the first quarter.
• Live Nation reported earnings of $0.41 per share for the last quarter, falling short of the expected $1.08, although revenues reached $7.01 billion, surpassing expectations.
• Seventeen analysts have given Live Nation a buy rating, with an average price target of $167.41 per share, indicating strong market confidence in the company's prospects.

Corient IA LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,000 shares of the company's stock, valued at approximately $392,000.

A number of other large investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $1,153,000. Praxis Investment Management Inc. lifted its holdings in shares of Live Nation Entertainment by 45.2% during the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after purchasing an additional 1,730 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Live Nation Entertainment during the 1st quarter worth $272,000. Teacher Retirement System of Texas purchased a new stake in shares of Live Nation Entertainment during the 1st quarter worth $3,081,000. Finally, Personal CFO Solutions LLC acquired a new stake in shares of Live Nation Entertainment during the 1st quarter valued at approximately $277,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV traded up $3.1630 during midday trading on Friday, hitting $165.6330. The company's stock had a trading volume of 1,913,136 shares, compared to its average volume of 2,487,829. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $166.54. The firm's fifty day moving average price is $150.76 and its 200-day moving average price is $141.15. 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 cap of $38.84 billion, a P/E ratio of 71.70, a P/E/G ratio of 9.76 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 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 business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the firm posted $1.03 earnings per share. The company's quarterly revenue was up 16.3% on a year-over-year basis. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYV. Rosenblatt Securities cut their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein began coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Oppenheimer upped their price target on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Moffett Nathanson began coverage on Live Nation Entertainment in a report on Monday. They issued a "buy" rating and a $195.00 price target for the company. Finally, Guggenheim restated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Eighteen analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $168.94.

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.