Rakuten Investment Management Inc. Makes New $1.61 Million Investment in Live Nation Entertainment, Inc. $LYV

Rakuten Investment Management Inc. purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,831 shares of the company’s stock, valued at approximately $1,606,000.

Several other large investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its holdings in Live Nation Entertainment by 2.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after acquiring an additional 69 shares during the period. Vident Advisory LLC grew its position in shares of Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Live Nation Entertainment by 24.4% during the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after purchasing an additional 82 shares during the last quarter. Greenleaf Trust boosted its stake in Live Nation Entertainment by 5.8% during the 3rd quarter. Greenleaf Trust now owns 1,680 shares of the company’s stock valued at $275,000 after purchasing an additional 92 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after buying an additional 109 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $147.08 on Friday. The stock has a market cap of $34.52 billion, a P/E ratio of 106.58, a PEG ratio of 9.08 and a beta of 1.20. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The company’s 50-day simple moving average is $139.73 and its 200 day simple moving average is $150.16.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of research analyst reports. Jefferies Financial Group lowered Live Nation Entertainment from a “buy” rating to a “hold” rating and cut their price target for the stock from $161.00 to $155.00 in a report on Tuesday, January 13th. Citigroup decreased their price target on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Zacks Research lowered shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. UBS Group initiated coverage on Live Nation Entertainment in a research report on Tuesday, November 25th. They set a “buy” rating and a $164.00 target price on the stock. Finally, Susquehanna upped their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Seventeen analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.30.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.