DekaBank Deutsche Girozentrale Lowers Stake in Live Nation Entertainment, Inc. $LYV

DekaBank Deutsche Girozentrale lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 54.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,241 shares of the company’s stock after selling 32,288 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Live Nation Entertainment were worth $4,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYV. Robeco Institutional Asset Management B.V. purchased a new stake in Live Nation Entertainment in the first quarter worth approximately $1,153,000. Stratos Wealth Partners LTD. bought a new position in shares of Live Nation Entertainment during the 1st quarter valued at $272,000. Teacher Retirement System of Texas bought a new stake in Live Nation Entertainment in the first quarter worth $3,081,000. Personal CFO Solutions LLC purchased a new stake in Live Nation Entertainment during the first quarter valued at about $277,000. Finally, Highland Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth about $1,170,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.2%

Shares of NYSE:LYV opened at $152.98 on Friday. The stock has a 50 day moving average price of $161.87 and a 200-day moving average price of $149.48. The firm has a market capitalization of $35.87 billion, a P/E ratio of 66.23, a P/E/G ratio of 12.20 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.03 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on LYV shares. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Citigroup decreased their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research report on Thursday, July 24th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $171.89.

About Live Nation Entertainment

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.