KLP Kapitalforvaltning AS Purchases 6,800 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

KLP Kapitalforvaltning AS grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,000 shares of the company's stock after buying an additional 6,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Live Nation Entertainment were worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its position in shares of Live Nation Entertainment by 0.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock worth $1,120,177,000 after buying an additional 44,703 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after purchasing an additional 294,310 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock worth $500,107,000 after purchasing an additional 108,293 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its holdings in shares of Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after purchasing an additional 777,105 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LYV has been the topic of a number of research reports. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a report on Thursday. Rosenblatt Securities dropped their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Wolfe Research lifted their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Benchmark reissued a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average price target of $165.82.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Performance

NYSE:LYV traded down $0.86 during trading hours on Monday, hitting $152.21. 196,567 shares of the company traded hands, compared to its average volume of 2,509,216. The stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 51.95, a P/E/G ratio of 5.96 and a beta of 1.45. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. The firm has a 50-day moving average of $145.95 and a 200 day moving average of $138.93. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the company posted $0.60 EPS. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

About Live Nation Entertainment

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.