Nykredit A S Invests $14.86 Million in Live Nation Entertainment, Inc. $LYV

Nykredit A S bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 81,127 shares of the company’s stock, valued at approximately $14,855,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter valued at about $824,000. Ancora Advisors LLC increased its position in shares of Live Nation Entertainment by 11,277.8% during the second quarter. Ancora Advisors LLC now owns 3,072 shares of the company’s stock valued at $563,000 after acquiring an additional 3,045 shares during the last quarter. GTS Securities LLC purchased a new position in Live Nation Entertainment in the second quarter worth $953,000. Alyeska Investment Group L.P. grew its stake in Live Nation Entertainment by 114.1% in the 2nd quarter. Alyeska Investment Group L.P. now owns 129,721 shares of the company’s stock valued at $23,753,000 after purchasing an additional 69,134 shares during the period. Finally, Greenleaf Trust raised its stake in shares of Live Nation Entertainment by 14.5% during the 2nd quarter. Greenleaf Trust now owns 3,000 shares of the company’s stock worth $549,000 after purchasing an additional 379 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LYV. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Zacks Research raised Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. 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 research note on Monday, July 20th. Weiss Ratings lowered shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Finally, TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Stock Down 2.2%

LYV stock opened at $173.51 on Friday. The stock has a 50-day simple moving average of $181.68 and a two-hundred day simple moving average of $168.65. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $189.24. The firm has a market capitalization of $40.88 billion, a PE ratio of -153.55 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

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

Insider Buying and Selling

In other news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is currently owned by insiders.

Live Nation Entertainment 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.