Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 123.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,260 shares of the company’s stock after purchasing an additional 7,317 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Live Nation Entertainment were worth $1,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. World Investment Advisors LLC acquired a new position in Live Nation Entertainment in the third quarter valued at about $38,000. Murphy & Mullick Capital Management Corp acquired a new position in Live Nation Entertainment during the 4th quarter worth $40,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment during the third quarter worth about $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Live Nation Entertainment in the fourth quarter valued at $44,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 2.8 %

Shares of NYSE LYV opened at $123.67 on Tuesday. The business has a 50 day simple moving average of $131.99 and a 200 day simple moving average of $131.33. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The stock has a market cap of $28.86 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 1.81 and a beta of 1.31. 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 released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last 90 days. 2.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on LYV shares. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Roth Mkm lifted their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Rosenblatt Securities reissued a “buy” rating and set a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Bank of America upped their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Macquarie increased their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.33.

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.