Retirement Systems of Alabama Purchases 722 Shares of Live Nation Entertainment, Inc. (LYV)

Retirement Systems of Alabama raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 346,732 shares of the company’s stock after buying an additional 722 shares during the quarter. Retirement Systems of Alabama owned about 0.16% of Live Nation Entertainment worth $22,031,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LYV. United Services Automobile Association grew its position in shares of Live Nation Entertainment by 14.7% during the 3rd quarter. United Services Automobile Association now owns 42,688 shares of the company’s stock worth $2,325,000 after buying an additional 5,457 shares during the period. Hsbc Holdings PLC grew its position in shares of Live Nation Entertainment by 98.3% during the 3rd quarter. Hsbc Holdings PLC now owns 8,283 shares of the company’s stock worth $451,000 after buying an additional 4,105 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $468,000. LPL Financial LLC grew its position in shares of Live Nation Entertainment by 17.6% during the 3rd quarter. LPL Financial LLC now owns 8,589 shares of the company’s stock worth $468,000 after buying an additional 1,285 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Live Nation Entertainment by 5.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 230,911 shares of the company’s stock worth $12,577,000 after buying an additional 11,843 shares during the period. Institutional investors own 69.06% of the company’s stock.

Shares of LYV opened at $64.93 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 1.03. Live Nation Entertainment, Inc. has a 52-week low of $38.45 and a 52-week high of $65.61. The company has a market capitalization of $13.69 billion, a P/E ratio of -721.44 and a beta of 1.16.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.08). Live Nation Entertainment had a net margin of 0.40% and a return on equity of 3.04%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.35 billion. Equities analysts forecast that Live Nation Entertainment, Inc. will post 0.44 EPS for the current year.

Several equities analysts have recently issued reports on LYV shares. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a research report on Thursday, February 14th. Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $59.00 to $63.00 in a research report on Friday, March 15th. They noted that the move was a valuation call. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Finally, Stephens boosted their price objective on Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment presently has a consensus rating of “Buy” and an average price target of $59.61.

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Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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