Baskin Financial Services Inc. Has $41.83 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Baskin Financial Services Inc. lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 322,988 shares of the company’s stock after selling 1,714 shares during the quarter. Live Nation Entertainment comprises approximately 3.3% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 16th biggest holding. Baskin Financial Services Inc.’s holdings in Live Nation Entertainment were worth $41,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LYV. ValueAct Holdings L.P. bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $111,094,000. PointState Capital LP bought a new stake in shares of Live Nation Entertainment in the third quarter valued at about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Live Nation Entertainment by 55.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after buying an additional 387,008 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after buying an additional 385,143 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $144.64 on Monday. Live Nation Entertainment, Inc. has a 52 week low of $86.67 and a 52 week high of $145.33. The company has a market capitalization of $33.61 billion, a price-to-earnings ratio of 153.87, a PEG ratio of 1.67 and a beta of 1.38. The company has a 50-day simple moving average of $135.23 and a 200 day simple moving average of $116.71. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on LYV shares. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Guggenheim raised their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.