BTC Capital Management Inc. Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

BTC Capital Management Inc. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,951 shares of the company’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its position in shares of Live Nation Entertainment by 148.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $33,000. Rise Advisors LLC boosted its stake in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in shares of Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after purchasing an additional 490 shares during the period. Finally, Tobam bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $59,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Up 0.7 %

Live Nation Entertainment stock opened at $92.96 on Friday. The company’s 50-day moving average price is $93.20 and its two-hundred day moving average price is $94.19. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a market cap of $21.36 billion, a P/E ratio of 88.53, a P/E/G ratio of 1.88 and a beta of 1.35. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. Live Nation Entertainment’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) EPS. As a group, analysts expect that Live Nation Entertainment, Inc. will post 1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

LYV has been the topic of several research reports. Rosenblatt Securities boosted their target price on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Oppenheimer lowered their target price on Live Nation Entertainment from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Finally, Redburn Atlantic upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

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.