PensionDanmark Pensionsforsikringsaktieselskab Increases Position in Live Nation Entertainment, Inc. $LYV

PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,903 shares of the company’s stock after buying an additional 3,200 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Live Nation Entertainment were worth $6,757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment during the second quarter worth approximately $26,000. Leonteq Securities AG acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth $30,000. Finally, DV Equities LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $31,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $180.52 on Friday. The stock’s 50-day moving average price is $176.56 and its 200 day moving average price is $163.55. 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 stock has a market capitalization of $42.54 billion, a PE ratio of -159.76 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $188.00.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on LYV shares. UBS Group boosted their target price on Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings downgraded Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 31st. Benchmark boosted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Rothschild & Co Redburn increased their price objective on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average 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.