Deutsche Bank AG lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 69.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 745,623 shares of the company's stock after selling 1,703,275 shares during the period. Deutsche Bank AG owned approximately 0.32% of Live Nation Entertainment worth $97,363,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Treasurer of the State of North Carolina boosted its holdings in shares of Live Nation Entertainment by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 69,443 shares of the company's stock valued at $8,993,000 after acquiring an additional 440 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Live Nation Entertainment by 779.9% in the fourth quarter. Sterling Capital Management LLC now owns 25,289 shares of the company's stock worth $3,275,000 after acquiring an additional 22,415 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Live Nation Entertainment during the fourth quarter worth approximately $1,405,000. Townsquare Capital LLC raised its stake in shares of Live Nation Entertainment by 6.2% during the 4th quarter. Townsquare Capital LLC now owns 4,630 shares of the company's stock worth $600,000 after buying an additional 269 shares during the period. Finally, Independent Franchise Partners LLP lifted its position in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after buying an additional 3,168,210 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on LYV. Roth Mkm cut their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Guggenheim reissued 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 initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target for the company. Rosenblatt Securities dropped their target price 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. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and an average price target of $165.94.
Check Out Our Latest Analysis on LYV
Insider Buying and Selling
In related news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction on 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 completion of the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.72% of the stock is owned by corporate insiders.
Live Nation Entertainment Stock Performance
Shares of LYV opened at $153.24 on Monday. The company has a 50-day simple moving average of $147.40 and a 200-day simple moving average of $140.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $35.93 billion, a PE ratio of 66.34, a P/E/G ratio of 5.06 and a beta of 1.46. Live Nation Entertainment, Inc. has a 52-week low of $90.69 and a 52-week high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share 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 analysts' expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.
About Live Nation Entertainment
(
Free Report)
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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