Nordea Investment Management AB Buys 1,005 Shares of Live Nation Entertainment, Inc. $LYV

Nordea Investment Management AB boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,823 shares of the company’s stock after purchasing an additional 1,005 shares during the period. Nordea Investment Management AB’s holdings in Live Nation Entertainment were worth $2,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its holdings in shares of Live Nation Entertainment by 2.5% in the second quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after acquiring an additional 69 shares during the period. Gilbert & Cook Inc. grew its stake in shares of Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock valued at $723,000 after purchasing an additional 75 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after purchasing an additional 97 shares during the last quarter. Trust Asset Management LLC lifted its stake in shares of Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after purchasing an additional 98 shares during the period. Finally, Callan Family Office LLC boosted its holdings in shares of Live Nation Entertainment by 1.8% in the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after buying an additional 98 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Citigroup raised their target price on Live Nation Entertainment from $165.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Rothschild & Co Redburn downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.42.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $155.94 on Thursday. The stock has a 50-day moving average price of $162.19 and a 200 day moving average price of $149.01. The stock has a market capitalization of $36.56 billion, a P/E ratio of 67.51, a P/E/G ratio of 12.27 and a beta of 1.40. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

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

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.