Illinois Municipal Retirement Fund Grows Stake in Live Nation Entertainment, Inc. $LYV

Illinois Municipal Retirement Fund lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 43.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,917 shares of the company’s stock after purchasing an additional 6,659 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Live Nation Entertainment were worth $3,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC raised its holdings in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after buying an additional 136 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $34,000. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $37,000. Finally, Root Financial Partners LLC bought a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $37,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 2.3%

Live Nation Entertainment stock opened at $158.39 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a market cap of $37.18 billion, a P/E ratio of 114.78, a P/E/G ratio of 10.48 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. The business has a 50-day simple moving average of $144.25 and a two-hundred day simple moving average of $149.94.

Wall Street Analyst Weigh In

A number of analysts have commented on LYV shares. Roth Mkm set a $174.00 target price on Live Nation Entertainment in a report on Thursday. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. Citigroup dropped their price target on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a report on Friday, January 2nd. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.45.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.