Cibc World Market Inc. Increases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Cibc World Market Inc. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 276.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,595 shares of the company's stock after buying an additional 101,060 shares during the period. Cibc World Market Inc. owned about 0.06% of Live Nation Entertainment worth $17,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $31,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $38,000. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the third quarter valued at $41,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

LYV stock opened at $144.64 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $145.33. The company has a market capitalization of $33.61 billion, a P/E ratio of 153.87, a PEG ratio of 1.65 and a beta of 1.38. The company has a 50-day simple moving average of $135.23 and a 200 day simple moving average of $116.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the subject of a number of research reports. Citigroup lifted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. StockNews.com raised Live Nation Entertainment from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $137.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. Guggenheim lifted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Macquarie upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.40.

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.

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