Maryland State Retirement & Pension System Acquires 311 Shares of Live Nation Entertainment, Inc. $LYV

Maryland State Retirement & Pension System grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,692 shares of the company’s stock after purchasing an additional 311 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Live Nation Entertainment were worth $1,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. boosted its holdings in Live Nation Entertainment by 1.4% in the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock valued at $723,000 after acquiring an additional 75 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after acquiring an additional 97 shares in the last quarter. Trust Asset Management LLC boosted its holdings in shares of Live Nation Entertainment by 5.8% during the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock valued at $233,000 after buying an additional 98 shares in the last quarter. Callan Family Office LLC boosted its holdings in shares of Live Nation Entertainment by 1.8% during the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock valued at $732,000 after buying an additional 98 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in shares of Live Nation Entertainment by 9.5% during the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company’s stock valued at $150,000 after buying an additional 100 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $153.07 on Monday. The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 66.26, a PEG ratio of 10.40 and a beta of 1.40. The firm’s 50-day moving average is $161.92 and its 200 day moving average is $147.81. Live Nation Entertainment, Inc. has a 1 year low of $112.79 and a 1 year high of $175.25. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LYV shares. Benchmark boosted their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 26th. Rothschild Redb cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a report on Thursday, July 24th. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, Citigroup upped their price target on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.42.

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.