DekaBank Deutsche Girozentrale reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 65.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,076 shares of the company’s stock after selling 22,760 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Live Nation Entertainment were worth $632,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of LYV. Captrust Financial Advisors purchased a new stake in Live Nation Entertainment in the fourth quarter valued at about $35,000. Parallel Advisors LLC raised its stake in Live Nation Entertainment by 81.0% in the first quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock valued at $35,000 after buying an additional 243 shares during the last quarter. CWM LLC raised its stake in Live Nation Entertainment by 59.5% in the first quarter. CWM LLC now owns 622 shares of the company’s stock valued at $40,000 after buying an additional 232 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in Live Nation Entertainment in the first quarter valued at about $40,000. Finally, Oregon Public Employees Retirement Fund raised its stake in Live Nation Entertainment by 6,602.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock valued at $72,000 after buying an additional 3,511,969 shares during the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.
LYV has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a research note on Thursday, February 14th. Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and increased their price objective for the company from $59.00 to $63.00 in a report on Friday, March 15th. They noted that the move was a valuation call. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Stephens increased their price objective on Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a report on Friday, March 29th. Finally, Atlantic Securities began coverage on Live Nation Entertainment in a report on Tuesday. They issued an “overweight” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment has a consensus rating of “Buy” and an average target price of $63.18.
Shares of LYV stock opened at $63.39 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94. Live Nation Entertainment, Inc. has a fifty-two week low of $46.02 and a fifty-two week high of $67.00.
Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 2nd. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.59 billion. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. Live Nation Entertainment’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the company earned ($0.24) earnings per share. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.27 earnings per share for the current fiscal year.
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Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing 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; and produces music festivals and creates associated content.
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