DekaBank Deutsche Girozentrale Increases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

DekaBank Deutsche Girozentrale boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 118.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,529 shares of the company's stock after buying an additional 32,288 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Live Nation Entertainment were worth $7,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new position in Live Nation Entertainment during the 1st quarter valued at about $277,000. Stratos Wealth Partners LTD. purchased a new stake in Live Nation Entertainment during the 1st quarter worth approximately $272,000. Envestnet Asset Management Inc. grew its position in Live Nation Entertainment by 31.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 407,447 shares of the company's stock worth $53,204,000 after purchasing an additional 97,664 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in Live Nation Entertainment during the 1st quarter valued at approximately $33,000. Finally, HM Payson & Co. lifted its stake in Live Nation Entertainment by 9.5% during the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company's stock valued at $150,000 after acquiring an additional 100 shares during the period. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Guggenheim reiterated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target for the company. Roth Mkm dropped their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Finally, Rosenblatt Securities dropped their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $165.24.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Down 0.4%

Shares of LYV traded down $0.55 during mid-day trading on Friday, hitting $143.91. 1,596,436 shares of the company's stock were exchanged, compared to its average volume of 2,343,629. The company has a market cap of $33.35 billion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 5.60 and a beta of 1.45. Live Nation Entertainment, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $157.75. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The stock's 50-day moving average is $143.75 and its 200-day moving average is $137.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm's quarterly revenue was down 11.0% on a year-over-year basis. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.