Independence Bank of Kentucky Purchases Shares of 350 Live Nation Entertainment, Inc. (NYSE:LYV)

Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 350 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors also recently bought and sold shares of the business. Cromwell Holdings LLC increased its stake in shares of Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares in the last quarter. Private Advisor Group LLC increased its stake in Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after acquiring an additional 93 shares during the last quarter. Gilbert & Cook Inc. lifted its position in shares of Live Nation Entertainment by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock valued at $707,000 after acquiring an additional 93 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Live Nation Entertainment by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 0.4 %

Shares of LYV stock opened at $144.64 on Monday. The company has a 50-day moving average of $135.23 and a two-hundred day moving average of $116.71. The firm has a market cap of $33.61 billion, a PE 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 1-year low of $86.67 and a 1-year high of $145.33. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Guggenheim raised 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. TD Cowen boosted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target 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. Finally, StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.