Elo Mutual Pension Insurance Co Takes Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Elo Mutual Pension Insurance Co purchased a new position of 13,680 shares in Live Nation (NYSE:LYV) in Q3, valued at about $2.235 million, and several large institutions also boosted holdings leaving 74.52% of the stock owned by institutional investors.
• In the most recent quarter Live Nation reported EPS of -$1.06 (missing estimates by $0.06) while revenue of $6.31 billion beat expectations and rose 11.1% year-over-year.
• Analysts remain largely positive with a consensus rating of “Moderate Buy” and an average price target of $182.19; the stock trades near $158.65 within a 52-week range of $112.88–$175.25 and shows a negative P/E and elevated debt-to-equity.

Elo Mutual Pension Insurance Co purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,680 shares of the company's stock, valued at approximately $2,235,000.

Several other institutional investors also recently bought and sold shares of LYV. Vanguard Group Inc. lifted its position in shares of Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company's stock valued at $3,378,970,000 after acquiring an additional 372,715 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock valued at $1,589,196,000 after purchasing an additional 1,763,511 shares in the last quarter. Geode Capital Management LLC boosted its stake in Live Nation Entertainment by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company's stock worth $639,849,000 after purchasing an additional 156,471 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company's stock worth $501,911,000 after buying an additional 212,592 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at about $198,336,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $158.65 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The stock's fifty day moving average is $149.02 and its two-hundred day moving average is $150.45. The company has a market capitalization of $37.25 billion, a P/E ratio of -661.04 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business posted $0.58 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

LYV has been the topic of a number of recent research reports. Oppenheimer reaffirmed an "outperform" rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Benchmark restated a "buy" rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. TD Cowen reaffirmed a "buy" rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Bank of America boosted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, Wolfe Research upped their target price on Live Nation Entertainment from $175.00 to $186.00 and gave the company an "outperform" rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $182.19.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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