Westerkirk Capital Inc. Invests $1.31 Million in Live Nation Entertainment, Inc. $LYV

Westerkirk Capital Inc. bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,682 shares of the company’s stock, valued at approximately $1,313,000.

Several other hedge funds also recently added to or reduced their stakes in LYV. Fifth Third Wealth Advisors LLC lifted its stake in shares of Live Nation Entertainment by 2.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after purchasing an additional 69 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after buying an additional 97 shares during the period. Trust Asset Management LLC lifted its position in Live Nation Entertainment by 5.8% during the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after acquiring an additional 98 shares in the last quarter. Callan Family Office LLC boosted its holdings in Live Nation Entertainment by 1.8% in the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after acquiring an additional 98 shares during the period. Finally, Horizon Investments LLC raised its stake in shares of Live Nation Entertainment by 5.1% during the first quarter. Horizon Investments LLC now owns 2,251 shares of the company’s stock valued at $294,000 after purchasing an additional 110 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 1.8%

Shares of Live Nation Entertainment stock opened at $128.69 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The business has a 50-day moving average price of $146.49 and a 200 day moving average price of $150.81. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The firm has a market cap of $30.21 billion, a P/E ratio of 55.71, a P/E/G ratio of 12.85 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. Live Nation Entertainment’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LYV shares. Evercore ISI decreased their target price on shares of Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Moffett Nathanson started coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price target for the company. Finally, Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Nineteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.50.

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.