Teachers Retirement System of The State of Kentucky Sells 133 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 11,037 shares of the company’s stock after selling 133 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Live Nation Entertainment were worth $1,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Frank Rimerman Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $748,000. Select Equity Group L.P. grew its position in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the period. Davidson Kempner Capital Management LP acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $3,985,000. Czech National Bank boosted its stake in Live Nation Entertainment by 17.5% during the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after acquiring an additional 4,761 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its stake in Live Nation Entertainment by 48.3% in the second quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after purchasing an additional 16,668 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Oppenheimer upped their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup boosted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Bank of America increased their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $144.33.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $137.86 on Wednesday. Live Nation Entertainment, Inc. has a 52-week low of $86.67 and a 52-week high of $141.18. The company has a market cap of $32.03 billion, a P/E ratio of 146.66, a P/E/G ratio of 3.65 and a beta of 1.37. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $126.86 and its 200 day simple moving average is $107.14.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.04 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.