BI Asset Management Fondsmaeglerselskab A S Acquires 6,797 Shares of Live Nation Entertainment, Inc. $LYV

BI Asset Management Fondsmaeglerselskab A S increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 96.7% in the first quarter, Holdings Channel reports. The institutional investor owned 13,825 shares of the company’s stock after buying an additional 6,797 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Live Nation Entertainment were worth $2,108,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LYV. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after acquiring an additional 1,001,905 shares during the period. Independent Franchise Partners LLP lifted its position in shares of Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after acquiring an additional 193,104 shares during the period. Capital World Investors grew its holdings in shares of Live Nation Entertainment by 4.8% during the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after purchasing an additional 237,342 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. increased its position in shares of Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 1.1%

Shares of NYSE LYV opened at $168.73 on Wednesday. The company has a market cap of $39.74 billion, a price-to-earnings ratio of -95.33 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $176.00. The stock has a 50-day moving average price of $164.24 and a two-hundred day moving average price of $154.91.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Guggenheim upped their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Susquehanna boosted their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company reduced their price target on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Insider Buying and Selling

In other news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.