Assenagon Asset Management S.A. Has $3.28 Million Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Assenagon Asset Management S.A. decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 79.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 29,994 shares of the company’s stock after selling 115,879 shares during the period. Assenagon Asset Management S.A.’s holdings in Live Nation Entertainment were worth $3,284,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Migdal Insurance & Financial Holdings Ltd. grew its position in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the period. UMB Bank n.a. raised its stake in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $42,000. American National Bank & Trust acquired a new position in Live Nation Entertainment in the third quarter worth $50,000. Finally, Blue Trust Inc. grew its holdings in shares of Live Nation Entertainment by 385.3% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after purchasing an additional 420 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Rowles sold 35,000 shares of the stock in a transaction that occurred on 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 directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,000 shares of company stock worth $17,238,181. Corporate insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LYV. Roth Mkm increased their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Rosenblatt Securities reissued a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Macquarie increased their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Live Nation Entertainment Stock Down 1.4 %

Shares of Live Nation Entertainment stock opened at $117.20 on Thursday. Live Nation Entertainment, Inc. has a 1 year low of $78.18 and a 1 year high of $119.47. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $26.99 billion, a P/E ratio of 110.57, a price-to-earnings-growth ratio of 2.78 and a beta of 1.35. The business has a 50-day moving average of $106.20 and a two-hundred day moving average of $97.96.

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 the consensus estimate of $1.06 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 EPS. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.18 EPS for the current year.

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.