Forsta AP Fonden Sells 5,500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Forsta AP Fonden cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,000 shares of the company’s stock after selling 5,500 shares during the quarter. Forsta AP Fonden’s holdings in Live Nation Entertainment were worth $10,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Creative Planning raised its stake in shares of Live Nation Entertainment by 1.2% during the second quarter. Creative Planning now owns 28,501 shares of the company’s stock valued at $2,672,000 after acquiring an additional 326 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Live Nation Entertainment by 74.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,755 shares of the company’s stock valued at $446,000 after purchasing an additional 2,035 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter worth approximately $4,999,000. American National Bank & Trust bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $50,000. Finally, Czech National Bank raised its holdings in shares of Live Nation Entertainment by 17.5% during the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after acquiring an additional 4,761 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 1.1 %

LYV opened at $144.10 on Friday. The firm’s 50 day simple moving average is $135.15 and its two-hundred day simple moving average is $116.12. The company has a market capitalization of $33.48 billion, a PE ratio of 153.30, a PEG ratio of 1.61 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.67 and a 1-year high of $144.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.02 EPS for the current year.

Analysts Set New Price Targets

LYV has been the topic of a number of research analyst reports. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup upped their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI boosted their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Oppenheimer increased their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.40.

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.