Nykredit A S Makes New $14.86 Million Investment in Live Nation Entertainment, Inc. $LYV

Nykredit A S acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 81,127 shares of the company’s stock, valued at approximately $14,855,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYV. Empowered Funds LLC raised its position in Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after purchasing an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC increased its position in shares of Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after buying an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Down 2.2%

Shares of NYSE LYV opened at $173.51 on Friday. The firm’s fifty day moving average is $181.68 and its 200 day moving average is $168.65. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a market cap of $40.88 billion, a price-to-earnings ratio of -153.55 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

LYV has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Susquehanna lifted their target price on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, UBS Group upped their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

About Live Nation Entertainment

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.