Assenagon Asset Management S.A. Boosts Stock Position in Live Nation Entertainment, Inc. $LYV

Assenagon Asset Management S.A. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 9,095.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 329,299 shares of the company’s stock after purchasing an additional 325,718 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of Live Nation Entertainment worth $46,925,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. lifted its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares during the period. Atwood & Palmer Inc. acquired a new position in Live Nation Entertainment during the third quarter valued at $33,000. Heartwood Wealth Advisors LLC purchased a new stake in Live Nation Entertainment in the third quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth about $37,000. Finally, Root Financial Partners LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director directly owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Up 0.5%

Shares of LYV opened at $152.61 on Wednesday. The firm has a market cap of $35.83 billion, a P/E ratio of -635.85 and a beta of 1.11. Live Nation Entertainment, Inc. has a 12 month low of $113.20 and a 12 month high of $175.25. The stock’s 50 day moving average is $152.44 and its two-hundred day moving average is $149.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LYV shares. Bank of America upped their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $175.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Rothschild & Co Redburn raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the company from $166.00 to $193.00 in a report on Friday, February 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $180.00 target price on shares of Live Nation Entertainment in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.40.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.