KRS Capital Management LLC Invests $233,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

KRS Capital Management LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $748,000. Select Equity Group L.P. boosted its stake in Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. Davidson Kempner Capital Management LP bought a new stake in Live Nation Entertainment during the second quarter valued at $3,985,000. Czech National Bank boosted its stake in Live Nation Entertainment by 17.5% during the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after buying an additional 4,761 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its stake in Live Nation Entertainment by 48.3% during the second quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after buying an additional 16,668 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the subject of several research analyst reports. Benchmark lifted their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Citigroup lifted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Up 1.6 %

LYV stock traded up $2.15 during midday trading on Friday, hitting $135.71. The company’s stock had a trading volume of 1,220,340 shares, compared to its average volume of 1,390,037. The company has a market cap of $31.53 billion, a PE ratio of 144.37, a P/E/G ratio of 1.50 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.67 and a 12 month high of $141.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s 50-day moving average is $133.51 and its 200-day moving average is $113.32.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

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.