Securian Asset Management Inc. Sells 100 Shares of Live Nation Entertainment, Inc. $LYV

Securian Asset Management Inc. decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,161 shares of the company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Live Nation Entertainment were worth $1,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LYV. Wayfinding Financial LLC bought a new position in Live Nation Entertainment during the 1st quarter worth approximately $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $33,000. GW&K Investment Management LLC lifted its stake in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after buying an additional 283 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $42,000. Finally, Private Trust Co. NA lifted its stake in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company’s stock valued at $53,000 after buying an additional 196 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday. Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Finally, Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective on the stock. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.89.

Live Nation Entertainment Price Performance

Shares of LYV opened at $153.33 on Friday. The company has a market cap of $35.95 billion, a price-to-earnings ratio of 66.38, a PEG ratio of 12.43 and a beta of 1.40. Live Nation Entertainment, Inc. has a 1-year low of $112.88 and a 1-year high of $175.25. The company’s fifty day simple moving average is $162.02 and its 200 day simple moving average is $149.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.Live Nation Entertainment’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.