OVERSEA CHINESE BANKING Corp Ltd Raises Stake in Live Nation Entertainment, Inc. $LYV

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 75.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,361 shares of the company’s stock after buying an additional 7,886 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Live Nation Entertainment were worth $2,778,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LYV. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter worth $30,000. Chilton Capital Management LLC purchased a new position in Live Nation Entertainment during the 1st quarter valued at about $33,000. GW&K Investment Management LLC boosted its stake in shares of Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after buying an additional 283 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment in the 1st quarter valued at about $42,000. Finally, Private Trust Co. NA boosted its stake in shares of Live Nation Entertainment by 94.2% in the 1st quarter. Private Trust Co. NA now owns 404 shares of the company’s stock valued at $53,000 after buying an additional 196 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $153.11 on Tuesday. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The stock has a market cap of $35.90 billion, a price-to-earnings ratio of 66.28, a price-to-earnings-growth ratio of 13.16 and a beta of 1.40. The business has a fifty day moving average of $161.69 and a 200-day moving average of $149.97. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LYV shares. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their target price for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Rothschild Redb lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Benchmark lifted their price target on Live Nation Entertainment from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.89.

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.