APG Asset Management N.V. Sells 12,485 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

APG Asset Management N.V. cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,147 shares of the company’s stock after selling 12,485 shares during the period. APG Asset Management N.V. owned about 0.11% of Live Nation Entertainment worth $23,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after buying an additional 29,669 shares during the period. Nordea Investment Management AB lifted its stake in Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock worth $146,567,000 after acquiring an additional 187,839 shares during the period. Public Sector Pension Investment Board grew its holdings in Live Nation Entertainment by 2,723.0% during the 4th quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock worth $40,129,000 after acquiring an additional 413,545 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Live Nation Entertainment in the 1st quarter valued at about $1,454,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $748,000. Institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LYV. Macquarie reissued an “outperform” rating and set a $125.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective for the company. Oppenheimer lifted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Morgan Stanley reissued an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $119.46.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock worth $17,238,181 over the last three months. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $108.74 on Friday. The stock has a 50-day moving average of $96.71 and a two-hundred day moving average of $96.38. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $24.98 billion, a P/E ratio of 103.56, a P/E/G ratio of 2.46 and a beta of 1.34. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $109.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the company earned $1.02 EPS. Live Nation Entertainment’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 1.21 EPS for the current 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.