Trust Co. of Oklahoma Buys New Shares in Live Nation Entertainment, Inc. (NYSE:LYV)

Trust Co. of Oklahoma acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,613 shares of the company’s stock, valued at approximately $382,000.

Several other large investors have also made changes to their positions in the business. Czech National Bank lifted its position in shares of Live Nation Entertainment by 0.5% in the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after acquiring an additional 115 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in shares of Live Nation Entertainment by 1.1% in the third quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock worth $956,000 after purchasing an additional 123 shares during the last quarter. Western Pacific Wealth Management LP increased its holdings in shares of Live Nation Entertainment by 15.8% in the fourth quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock worth $92,000 after purchasing an additional 134 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Live Nation Entertainment by 5.4% in the fourth quarter. Spire Wealth Management now owns 2,833 shares of the company’s stock worth $258,000 after purchasing an additional 145 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of Live Nation Entertainment by 5.9% in the fourth quarter. Raymond James Trust N.A. now owns 2,628 shares of the company’s stock worth $246,000 after purchasing an additional 147 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 2.0 %

Shares of NYSE:LYV traded down $1.89 during trading hours on Wednesday, hitting $94.81. 1,992,550 shares of the company’s stock traded hands, compared to its average volume of 2,274,919. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. The business has a fifty day moving average price of $93.37 and a 200-day moving average price of $94.45. The firm has a market capitalization of $21.78 billion, a P/E ratio of 90.30, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 2.22% and a return on equity of 90.67%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) EPS. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LYV. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 6th. JPMorgan Chase & Co. reduced their target price on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Rosenblatt Securities boosted their price objective on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Redburn Atlantic raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment 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.