DNB Asset Management AS Acquires 3,440 Shares of Live Nation Entertainment, Inc. $LYV

DNB Asset Management AS boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 55,745 shares of the company’s stock after buying an additional 3,440 shares during the period. DNB Asset Management AS’s holdings in Live Nation Entertainment were worth $7,944,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vident Advisory LLC grew its position in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. grew its position in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares in the last quarter. Ameriflex Group Inc. grew its position in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. GW&K Investment Management LLC grew its position in shares of Live Nation Entertainment by 22.2% during the 3rd quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock worth $76,000 after purchasing an additional 85 shares in the last quarter. Finally, Alteri Wealth LLC grew its position in shares of Live Nation Entertainment by 5.1% during the 3rd quarter. Alteri Wealth LLC now owns 1,841 shares of the company’s stock worth $301,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LYV shares. Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Guggenheim increased their target price 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Finally, Wolfe Research increased their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.75.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,798 shares of company stock valued at $26,088,615 in the last quarter. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Down 1.0%

Shares of LYV opened at $167.22 on Tuesday. The company has a market cap of $39.39 billion, a P/E ratio of -94.47 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $158.51 and a two-hundred day simple moving average of $149.31. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) EPS. Research analysts forecast that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

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.