Everence Capital Management Inc. Takes $496,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Everence Capital Management Inc. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, Holdings Channel reports. The fund acquired 3,830 shares of the company’s stock, valued at approximately $496,000.

A number of other institutional investors have also recently bought and sold shares of LYV. Select Equity Group L.P. boosted its position in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after acquiring an additional 155,920 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares during the period. Finally, D1 Capital Partners L.P. lifted its holdings in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. Citigroup raised their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Benchmark boosted their price objective on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Bank of America increased their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Roth Mkm increased their price objective on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $129.49 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a fifty day simple moving average of $131.20 and a 200 day simple moving average of $110.84. Live Nation Entertainment, Inc. has a 1-year low of $86.67 and a 1-year high of $141.18. The stock has a market capitalization of $30.09 billion, a PE ratio of 137.76, a P/E/G ratio of 3.68 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period in the previous year, the business earned $1.78 EPS. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.04 EPS 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.