First Citizens Bank & Trust Co. Makes New Investment in Live Nation Entertainment, Inc. $LYV

First Citizens Bank & Trust Co. bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,434 shares of the company’s stock, valued at approximately $217,000.

A number of other large investors have also bought and sold shares of LYV. GAMMA Investing LLC increased its position in Live Nation Entertainment by 24.5% in the first quarter. GAMMA Investing LLC now owns 3,914 shares of the company’s stock worth $511,000 after buying an additional 771 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Live Nation Entertainment by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company’s stock worth $487,000 after buying an additional 154 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Live Nation Entertainment by 32.1% in the first quarter. Oppenheimer & Co. Inc. now owns 2,655 shares of the company’s stock worth $347,000 after buying an additional 645 shares during the last quarter. Spire Wealth Management increased its position in Live Nation Entertainment by 12.3% in the first quarter. Spire Wealth Management now owns 4,727 shares of the company’s stock worth $617,000 after buying an additional 517 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in Live Nation Entertainment by 120.9% in the first quarter. Golden State Wealth Management LLC now owns 709 shares of the company’s stock worth $93,000 after buying an additional 388 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of analyst reports. Rothschild Redb lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Moffett Nathanson initiated coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price target for the company. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research report on Thursday, July 24th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.89.

Live Nation Entertainment Trading Down 0.2%

NYSE LYV opened at $152.98 on Monday. The stock’s 50-day simple moving average is $161.87 and its two-hundred day simple moving average is $149.82. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $35.87 billion, a price-to-earnings ratio of 66.23, a PEG ratio of 13.16 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.