DekaBank Deutsche Girozentrale Increases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

DekaBank Deutsche Girozentrale increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 16.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,329 shares of the company’s stock after purchasing an additional 3,501 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Live Nation Entertainment were worth $1,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fieldpoint Private Securities LLC boosted its stake in shares of Live Nation Entertainment by 357.1% during the second quarter. Fieldpoint Private Securities LLC now owns 320 shares of the company’s stock worth $26,000 after buying an additional 250 shares during the period. Tortoise Investment Management LLC lifted its position in Live Nation Entertainment by 274.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 337 shares of the company’s stock worth $28,000 after acquiring an additional 247 shares during the period. SOA Wealth Advisors LLC. grew its stake in shares of Live Nation Entertainment by 689.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 379 shares of the company’s stock valued at $28,000 after purchasing an additional 331 shares during the last quarter. CX Institutional acquired a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $31,000. Finally, Tobam acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $37,000. 69.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jimmy Iovine acquired 13,740 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, December 1st. The shares were acquired at an average price of $73.28 per share, with a total value of $1,006,867.20. Following the completion of the purchase, the director now owns 13,740 shares of the company’s stock, valued at approximately $1,006,867.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYV. Morgan Stanley reduced their price objective on shares of Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 30th. Rosenblatt Securities dropped their price objective on Live Nation Entertainment from $138.00 to $101.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. StockNews.com raised Live Nation Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. Citigroup raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $90.00 to $82.00 in a research note on Monday, November 28th. Finally, The Goldman Sachs Group reduced their price objective on shares of Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.67.

Live Nation Entertainment Trading Up 1.4 %

Shares of LYV opened at $77.00 on Wednesday. The company has a debt-to-equity ratio of 12.85, a current ratio of 1.04 and a quick ratio of 1.04. Live Nation Entertainment, Inc. has a 1-year low of $65.05 and a 1-year high of $126.79. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 110.00 and a beta of 1.26. The firm has a 50 day simple moving average of $71.47 and a 200-day simple moving average of $80.65.

Live Nation Entertainment (NYSE:LYV – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Live Nation Entertainment had a return on equity of 1,222.70% and a net margin of 2.01%. Equities analysts forecast that Live Nation Entertainment, Inc. will post 0.53 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.