black and white Capital LP bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 190,000 shares of the company’s stock, valued at approximately $8,088,000. Live Nation Entertainment makes up 1.2% of black and white Capital LP’s holdings, making the stock its 16th largest position.
Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $134,000. IFP Advisors Inc raised its holdings in Live Nation Entertainment by 85.4% during the 4th quarter. IFP Advisors Inc now owns 3,088 shares of the company’s stock worth $131,000 after buying an additional 1,422 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $167,000. US Bancorp DE raised its holdings in Live Nation Entertainment by 379.4% during the 4th quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $165,000 after buying an additional 3,062 shares during the period. Finally, Global X Management Co. LLC raised its holdings in Live Nation Entertainment by 45.5% during the 4th quarter. Global X Management Co. LLC now owns 4,239 shares of the company’s stock worth $180,000 after buying an additional 1,325 shares during the period. Hedge funds and other institutional investors own 69.08% of the company’s stock.
Shares of Live Nation Entertainment, Inc. (NYSE LYV) opened at $45.05 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $28.11 and a fifty-two week high of $49.11. The stock has a market cap of $9,320.00, a P/E ratio of -57.03 and a beta of 0.99.
A number of research firms have recently issued reports on LYV. Macquarie reiterated a “buy” rating and issued a $55.00 price objective on shares of Live Nation Entertainment in a report on Thursday, March 1st. Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Finally, Guggenheim reiterated a “buy” rating and issued a $53.00 price objective on shares of Live Nation Entertainment in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Live Nation Entertainment currently has an average rating of “Buy” and an average target price of $46.86.
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Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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