National Pension Service Boosts Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• The National Pension Service increased its stake in Live Nation Entertainment by 2.5%, acquiring an additional 6,704 shares to own a total of 279,606 shares valued at approximately $36.5 million.
• Despite missing earnings estimates for the quarter, Live Nation reported a 16.3% year-over-year revenue increase to $7.01 billion, showcasing solid demand in the live entertainment sector.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Live Nation stock, with an average target price of $167.41, reflecting optimism about its growth potential.

National Pension Service boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,606 shares of the company's stock after purchasing an additional 6,704 shares during the period. National Pension Service owned about 0.12% of Live Nation Entertainment worth $36,511,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. bought a new position in Live Nation Entertainment during the 4th quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in Live Nation Entertainment in the 1st quarter worth about $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment in the 1st quarter worth about $33,000. N.E.W. Advisory Services LLC bought a new position in Live Nation Entertainment in the 1st quarter worth about $42,000. Finally, GW&K Investment Management LLC grew its stake in Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after acquiring an additional 283 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $1.3950 during trading on Wednesday, hitting $161.5050. The company had a trading volume of 680,713 shares, compared to its average volume of 2,493,293. The stock has a fifty 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 firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of 69.98, a price-to-earnings-growth ratio of 9.78 and a beta of 1.46. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results 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 company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $1.03 EPS. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. On average, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Rosenblatt Securities dropped their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Roth Mkm decreased their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Guggenheim reissued a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Finally, Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a report on Monday. They issued a "buy" rating and a $195.00 price target for the company. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Live Nation Entertainment presently has an average rating of "Buy" and an average target price of $168.94.

About Live Nation Entertainment

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.