Forsta AP Fonden Has $9.65 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Forsta AP Fonden sold 5,100 shares of Live Nation Entertainment, reducing its holdings by 6.5%, leaving it with 73,900 shares worth approximately $9.65 million.
• Several research firms have issued a consensus rating of "Moderate Buy" on Live Nation's stock, boosting target prices between $170.00 and $185.00.
• Live Nation reported a net margin of 3.88% with revenues of $7.01 billion in its latest quarterly earnings, outperforming analyst estimates.

Forsta AP Fonden trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,900 shares of the company's stock after selling 5,100 shares during the period. Forsta AP Fonden's holdings in Live Nation Entertainment were worth $9,650,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new stake in Live Nation Entertainment during the first quarter worth about $1,153,000. Praxis Investment Management Inc. raised its stake in Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after buying an additional 1,730 shares during the period. Stratos Wealth Partners LTD. bought a new stake in Live Nation Entertainment in the first quarter valued at approximately $272,000. Teacher Retirement System of Texas acquired a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $3,081,000. Finally, Personal CFO Solutions LLC acquired a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $277,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.3%

NYSE:LYV traded up $0.52 during trading hours on Wednesday, hitting $158.95. 1,767,573 shares of the company were exchanged, compared to its average volume of 2,503,428. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 68.81, a price-to-earnings-growth ratio of 6.97 and a beta of 1.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a one year low of $91.58 and a one year high of $159.97. The company has a fifty day simple moving average of $148.16 and a 200 day simple moving average of $140.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on LYV. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research note on Thursday, July 24th. Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Rosenblatt Securities lowered their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Finally, Sanford C. Bernstein began coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $167.41.

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.