DekaBank Deutsche Girozentrale increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,478 shares of the company’s stock after purchasing an additional 1,263 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Live Nation Entertainment were worth $2,454,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in LYV. AE Wealth Management LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $237,000. Kestra Advisory Services LLC increased its position in Live Nation Entertainment by 76.1% during the 4th quarter. Kestra Advisory Services LLC now owns 23,081 shares of the company’s stock worth $2,763,000 after purchasing an additional 9,977 shares in the last quarter. Wealthfront Advisers LLC increased its position in Live Nation Entertainment by 29.9% during the 4th quarter. Wealthfront Advisers LLC now owns 5,663 shares of the company’s stock worth $678,000 after purchasing an additional 1,302 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $215,000. Finally, National Bank of Canada FI acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $8,788,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on LYV shares. Citigroup decreased their price target on shares of Live Nation Entertainment from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Wolfe Research decreased their price target on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating for the company in a research report on Thursday, June 2nd. Morgan Stanley decreased their price target on shares of Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, June 2nd. William Blair restated an “outperform” rating on shares of Live Nation Entertainment in a research report on Friday, April 8th. Finally, Benchmark started coverage on shares of Live Nation Entertainment in a research report on Monday, April 25th. They issued a “buy” rating and a $135.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.90.
Live Nation Entertainment Stock Up 1.7 %
Live Nation Entertainment (NYSE:LYV – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.59. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted ($1.44) earnings per share. The firm’s quarterly revenue was up 520.4% on a year-over-year basis. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 0.49 earnings per share for the current year.
Insider Buying and Selling at Live Nation Entertainment
In other news, CEO Michael Rapino sold 78,000 shares of the stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $106.46, for a total value of $8,303,880.00. Following the completion of the sale, the chief executive officer now owns 3,270,520 shares in the company, valued at $348,179,559.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 390,000 shares of company stock valued at $39,726,180. Corporate insiders own 4.01% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.
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