Empowered Funds LLC Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Empowered Funds LLC cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,829 shares of the company’s stock after selling 507 shares during the quarter. Empowered Funds LLC’s holdings in Live Nation Entertainment were worth $2,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $42,000. Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $44,000. Independence Bank of Kentucky purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $45,000. Finally, Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $41,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $153.80 on Friday. The firm has a market cap of $35.73 billion, a PE ratio of 163.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $153.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s fifty day simple moving average is $137.45 and its two-hundred day simple moving average is $120.21.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on LYV shares. TD Cowen increased their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI increased their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Oppenheimer increased their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.60.

Live Nation Entertainment 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.