DnB Asset Management AS Acquires 335 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

DnB Asset Management AS lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,456 shares of the company’s stock after acquiring an additional 335 shares during the quarter. DnB Asset Management AS’s holdings in Live Nation Entertainment were worth $3,556,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Amundi boosted its position in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after buying an additional 33,980 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $226,000. Charles Schwab Investment Management Inc. raised its holdings in Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after acquiring an additional 48,949 shares during the period. Finally, Friedenthal Financial acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $754,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on LYV. Roth Mkm upped their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Morgan Stanley raised their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $130.71 on Tuesday. The business has a fifty day simple moving average of $138.04 and a 200 day simple moving average of $129.07. The company has a market cap of $30.51 billion, a P/E ratio of 48.06, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last quarter. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Profile

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.