Hennessy Advisors Inc. Boosts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Hennessy Advisors Inc. lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,000 shares of the company’s stock after acquiring an additional 6,200 shares during the period. Hennessy Advisors Inc.’s holdings in Live Nation Entertainment were worth $12,562,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter worth about $419,000. Brown Brothers Harriman & Co. raised its stake in shares of Live Nation Entertainment by 1,738.3% during the second quarter. Brown Brothers Harriman & Co. now owns 1,103 shares of the company’s stock valued at $103,000 after purchasing an additional 1,043 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Live Nation Entertainment by 85.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after purchasing an additional 476,981 shares during the period. Dimensional Fund Advisors LP grew its holdings in Live Nation Entertainment by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,019 shares of the company’s stock valued at $83,780,000 after purchasing an additional 51,397 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co increased its stake in Live Nation Entertainment by 3.2% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock worth $360,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.1 %

Shares of Live Nation Entertainment stock opened at $133.52 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $86.67 and a twelve month high of $141.18. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 142.04, a PEG ratio of 1.50 and a beta of 1.38. 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 business’s 50 day simple moving average is $133.26 and its 200-day simple moving average is $113.03.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The company 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% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

LYV has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Bank of America raised their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $145.40.

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.