California Public Employees Retirement System Raises Holdings in Live Nation Entertainment, Inc. $LYV

California Public Employees Retirement System boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 292,543 shares of the company’s stock after acquiring an additional 11,640 shares during the quarter. California Public Employees Retirement System owned about 0.12% of Live Nation Entertainment worth $44,256,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Atria Wealth Solutions Inc. raised its holdings in Live Nation Entertainment by 108.1% in the 1st quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company’s stock valued at $475,000 after buying an additional 1,888 shares during the period. National Bank of Canada FI increased its position in shares of Live Nation Entertainment by 3.8% during the first quarter. National Bank of Canada FI now owns 77,664 shares of the company’s stock valued at $10,141,000 after acquiring an additional 2,842 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Live Nation Entertainment by 3.5% in the 1st quarter. Townsquare Capital LLC now owns 4,790 shares of the company’s stock valued at $625,000 after acquiring an additional 160 shares during the period. Aigen Investment Management LP acquired a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $459,000. Finally, Nuveen LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at approximately $201,501,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LYV shares. Guggenheim decreased their price target on Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Oppenheimer raised their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Susquehanna increased their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Finally, Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.50.

Live Nation Entertainment Stock Up 0.8%

LYV stock opened at $139.20 on Wednesday. The company’s 50 day moving average price is $144.05 and its 200 day moving average price is $150.55. The firm has a market capitalization of $32.68 billion, a price-to-earnings ratio of 100.87 and a beta of 1.22. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. During the same quarter last year, the firm earned $1.66 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.