Assenagon Asset Management S.A. Acquires 268,710 Shares of Live Nation Entertainment, Inc. $LYV

Assenagon Asset Management S.A. lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 253.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,747 shares of the company's stock after purchasing an additional 268,710 shares during the period. Assenagon Asset Management S.A. owned 0.16% of Live Nation Entertainment worth $63,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Nissay Asset Management Corp Japan boosted its position in shares of Live Nation Entertainment by 0.3% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company's stock worth $3,858,000 after acquiring an additional 66 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Live Nation Entertainment by 7.7% during the second quarter. MCF Advisors LLC now owns 1,188 shares of the company's stock worth $218,000 after buying an additional 85 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Live Nation Entertainment by 1.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company's stock valued at $1,041,000 after acquiring an additional 89 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Live Nation Entertainment by 6.9% in the 3rd quarter. Wedmont Private Capital now owns 1,427 shares of the company's stock valued at $245,000 after acquiring an additional 92 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in Live Nation Entertainment by 1.9% during the 1st quarter. Arkadios Wealth Advisors now owns 5,361 shares of the company's stock worth $818,000 after acquiring an additional 98 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $170.66 on Friday. The firm has a market cap of $40.21 billion, a price-to-earnings ratio of -151.03 and a beta of 1.17. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The firm's 50-day simple moving average is $175.05 and its two-hundred day simple moving average is $171.36.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm earned $0.41 EPS. The company's revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares of the company's stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.89% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LYV. BTIG Research reissued a "buy" rating and set a $215.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. Guggenheim boosted their target price on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Weiss Ratings cut shares of Live Nation Entertainment from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Finally, Roth Capital set a $208.00 price objective on Live Nation Entertainment in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and an average target price of $197.43.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that promotes concerts and other live events, operates entertainment venues, and provides ticketing services. Its activities span the live event ecosystem, from artist and event promotion to ticket sales, venue management, sponsorship, and advertising.

The company's business includes Live Nation Concerts, which produces and promotes tours, festivals, and other events; Ticketmaster, a ticketing platform serving venues, event organizers, and fans; and a portfolio of owned, operated, or managed venues.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.