Nykredit A S Invests $12.97 Million in Live Nation Entertainment, Inc. $LYV

Key Points

• Nykredit A/S purchased 70,823 Live Nation shares worth approximately $12.97 million during the second quarter. Institutional investors collectively own 74.52% of the company.
• Analysts remain broadly bullish, with 20 Buy ratings, three Holds and one Sell. Live Nation has an average “Moderate Buy” rating and an average price target of $197.19.
• Live Nation reported quarterly earnings of $1.05 per share, beating expectations of $0.66, while revenue rose 9.4% year over year to $7.67 billion.

Nykredit A S purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 70,823 shares of the company's stock, valued at approximately $12,968,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYV. Bank of America Corp DE acquired a new position in Live Nation Entertainment during the 2nd quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board bought a new position in Live Nation Entertainment during the 2nd quarter valued at $859,018,000. Norges Bank purchased a new position in Live Nation Entertainment during the fourth quarter worth about $285,924,000. Sachem Head Capital Management LP purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $173,380,000. Finally, Jericho Capital Asset Management L.P. boosted its position in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock worth $569,503,000 after purchasing an additional 1,099,350 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LYV shares. BTIG Research reiterated a "buy" rating and issued a $215.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. UBS Group lifted their target price on Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Roth Capital set a $208.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, Citigroup lifted their price target on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $197.19.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $167.19 on Monday. The firm has a market cap of $39.40 billion, a P/E ratio of -147.96 and a beta of 1.11. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The firm has a 50-day moving average of $179.08 and a 200-day moving average of $169.53. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment's live entertainment business and Live Nation.

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