Forsta AP Fonden Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Forsta AP Fonden trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,100 shares of the company’s stock after selling 16,900 shares during the period. Forsta AP Fonden’s holdings in Live Nation Entertainment were worth $7,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after buying an additional 110,097 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Live Nation Entertainment by 12.0% in the first quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock worth $384,346,000 after acquiring an additional 388,980 shares during the period. Cantillon Capital Management LLC lifted its holdings in Live Nation Entertainment by 16.7% in the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock valued at $339,066,000 after acquiring an additional 458,893 shares during the period. Norges Bank purchased a new position in Live Nation Entertainment in the fourth quarter worth about $248,139,000. Finally, Artisan Partners Limited Partnership grew its stake in shares of Live Nation Entertainment by 7.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after purchasing an additional 153,825 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.6 %

Shares of LYV opened at $98.85 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The company’s fifty day moving average is $94.89 and its 200 day moving average is $95.91. The stock has a market capitalization of $22.71 billion, a PE ratio of 94.14, a P/E/G ratio of 2.29 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.02 earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. 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 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 over the last three months. 2.85% of the stock is owned by company insiders.

Analyst Ratings Changes

LYV has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Bank of America initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.46.

Live Nation Entertainment Company 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.