DekaBank Deutsche Girozentrale raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 16.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,329 shares of the company’s stock after purchasing an additional 3,501 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Live Nation Entertainment were worth $1,888,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. lifted its stake in Live Nation Entertainment by 4.3% during the first quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock worth $369,000 after purchasing an additional 130 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in shares of Live Nation Entertainment by 21.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 746 shares of the company’s stock valued at $88,000 after buying an additional 132 shares during the period. Empirical Finance LLC raised its stake in Live Nation Entertainment by 6.2% during the second quarter. Empirical Finance LLC now owns 2,518 shares of the company’s stock worth $208,000 after acquiring an additional 146 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Live Nation Entertainment by 1.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 10,889 shares of the company’s stock worth $828,000 after acquiring an additional 151 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Live Nation Entertainment by 6.1% during the third quarter. Whittier Trust Co. now owns 2,791 shares of the company’s stock valued at $212,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 69.90% of the company’s stock.
In related news, Director Jimmy Iovine bought 13,740 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were acquired at an average cost of $73.28 per share, for a total transaction of $1,006,867.20. Following the acquisition, the director now directly owns 13,740 shares of the company’s stock, valued at approximately $1,006,867.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.01% of the company’s stock.
Live Nation Entertainment Trading Up 1.4 %
Live Nation Entertainment (NYSE:LYV – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. Live Nation Entertainment had a net margin of 2.01% and a return on equity of 1,222.70%. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.53 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Guggenheim lowered their price objective on Live Nation Entertainment from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, October 7th. StockNews.com upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. The Goldman Sachs Group cut their price target on Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Morgan Stanley lowered their target price on Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 30th. Finally, Citigroup upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $90.00 to $82.00 in a research report on Monday, November 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.67.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.
- Get a free copy of the StockNews.com research report on Live Nation Entertainment (LYV)
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