ING Groep NV Buys New Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

ING Groep NV purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,782 shares of the company’s stock, valued at approximately $2,044,000.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $31,000. World Investment Advisors LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $38,000. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $41,000. Morse Asset Management Inc acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $149.37 on Monday. The company has a market cap of $34.71 billion, a P/E ratio of 54.92, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The business’s 50-day simple moving average is $139.23 and its 200 day simple moving average is $122.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research analyst reports. Evercore ISI raised their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Rosenblatt Securities reissued a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. TD Cowen upped their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Macquarie upped their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.27.

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.