Live Nation Entertainment, Inc. $LYV Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its holdings in Live Nation Entertainment, Inc. by 61.7%, now owning 5,080 shares valued at $663,000.
• Several institutional investors have increased their positions in Live Nation Entertainment, leading to a total of 74.52% institutional ownership of the company.
• Analysts have set optimistic price targets for Live Nation, with expectations ranging from $165 to $180, reflecting strong buy ratings across multiple brokerages.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 61.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,080 shares of the company's stock after selling 8,180 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Live Nation Entertainment were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Mariner LLC raised its position in shares of Live Nation Entertainment by 8.3% in the 4th quarter. Mariner LLC now owns 10,953 shares of the company's stock valued at $1,418,000 after purchasing an additional 844 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Live Nation Entertainment by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 984,603 shares of the company's stock valued at $127,528,000 after buying an additional 80,109 shares during the last quarter. MML Investors Services LLC increased its position in shares of Live Nation Entertainment by 45.4% in the 4th quarter. MML Investors Services LLC now owns 9,475 shares of the company's stock valued at $1,227,000 after acquiring an additional 2,958 shares during the period. State of Tennessee Department of Treasury raised its stake in Live Nation Entertainment by 14.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 32,167 shares of the company's stock worth $4,166,000 after acquiring an additional 4,093 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth about $236,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LYV. Wolfe Research raised their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Eighteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Stock Performance

LYV opened at $165.6330 on Friday. The firm has a fifty day moving average price of $151.31 and a 200 day moving average price of $141.22. Live Nation Entertainment, Inc. has a 1 year low of $92.57 and a 1 year high of $166.54. The stock has a market cap of $38.84 billion, a P/E ratio of 71.70, a P/E/G ratio of 10.00 and a beta of 1.46. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share 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.

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