Public Employees Retirement Association of Colorado Has $25.71 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Public Employees Retirement Association of Colorado cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 243,094 shares of the company’s stock after selling 1,011 shares during the period. Public Employees Retirement Association of Colorado owned about 0.11% of Live Nation Entertainment worth $25,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at $248,139,000. Cantillon Capital Management LLC grew its stake in shares of Live Nation Entertainment by 146.6% in the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock valued at $257,101,000 after acquiring an additional 1,632,749 shares in the last quarter. Kodai Capital Management LP acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at about $44,340,000. Assenagon Asset Management S.A. grew its stake in shares of Live Nation Entertainment by 445.4% in the first quarter. Assenagon Asset Management S.A. now owns 512,347 shares of the company’s stock valued at $54,191,000 after acquiring an additional 418,411 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after acquiring an additional 413,545 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded up $1.82 during midday trading on Monday, hitting $95.46. 1,010,920 shares of the company’s stock were exchanged, compared to its average volume of 2,195,672. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 89.18, a PEG ratio of 2.09 and a beta of 1.34. The business’s fifty day moving average price is $93.90 and its two-hundred day moving average price is $94.90.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.25) EPS. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 1.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. Roth Mkm reissued a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Friday, May 24th. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Redburn Atlantic raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $114.00 to $115.00 in a report on Thursday, May 9th. Finally, Oppenheimer restated an “outperform” rating and set a $110.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.58.

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.