Ritholtz Wealth Management Takes $310,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Ritholtz Wealth Management acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,397 shares of the company's stock, valued at approximately $310,000.

A number of other institutional investors also recently added to or reduced their stakes in LYV. Select Equity Group L.P. grew its stake in 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 last quarter. ValueAct Holdings L.P. purchased a new position in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $111,094,000. PointState Capital LP acquired a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $102,762,000. Vulcan Value Partners LLC grew its position in Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company's stock worth $252,663,000 after purchasing an additional 855,197 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company's stock valued at $118,147,000 after purchasing an additional 387,008 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV traded down $0.32 during trading on Wednesday, reaching $138.60. 1,817,030 shares of the company's stock traded hands, compared to its average volume of 1,647,733. The firm has a market cap of $32.20 billion, a PE ratio of 147.44, a P/E/G ratio of 1.57 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $141.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50-day simple moving average of $133.93 and a 200-day simple moving average of $114.16.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating 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 business had revenue of $7.65 billion during the quarter, compared to analysts' expectations of $7.75 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The business's revenue was down 6.2% compared to the same quarter last year. As a group, analysts predict that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Guggenheim increased their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Benchmark lifted their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Roth Mkm increased their price target on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, TD Cowen lifted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $145.40.

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.