Cibc World Market Inc. Buys 101,060 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cibc World Market Inc. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 276.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 137,595 shares of the company’s stock after acquiring an additional 101,060 shares during the period. Cibc World Market Inc.’s holdings in Live Nation Entertainment were worth $17,819,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Czech National Bank boosted its holdings in shares of Live Nation Entertainment by 17.5% during the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after buying an additional 4,761 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Live Nation Entertainment by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after acquiring an additional 107,844 shares during the period. Empowered Funds LLC grew its position in shares of Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after purchasing an additional 13,815 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Live Nation Entertainment by 12.0% in the third quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock worth $7,279,000 after purchasing an additional 7,136 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $441,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LYV. TD Cowen upped their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Oppenheimer upped their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Macquarie raised their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, Evercore ISI boosted their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Trading Up 0.4 %

Shares of Live Nation Entertainment stock opened at $144.64 on Friday. The stock has a market capitalization of $33.61 billion, a P/E ratio of 153.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.67 and a 12-month high of $145.33. 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 $135.23 and a 200 day simple moving average of $116.44.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the business earned $1.78 EPS. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. Research analysts expect that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

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.