Norges Bank Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Norges Bank bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,976,484 shares of the company’s stock, valued at approximately $255,955,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NEOS Investment Management LLC boosted its position in Live Nation Entertainment by 26.3% in the fourth quarter. NEOS Investment Management LLC now owns 5,954 shares of the company’s stock worth $771,000 after purchasing an additional 1,239 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of Live Nation Entertainment by 14.1% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 16,294 shares of the company’s stock worth $2,110,000 after buying an additional 2,009 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after buying an additional 445,704 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Live Nation Entertainment by 12.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,264 shares of the company’s stock worth $32,666,000 after buying an additional 28,288 shares during the last quarter. Finally, Korea Investment CORP boosted its stake in Live Nation Entertainment by 21.0% in the fourth quarter. Korea Investment CORP now owns 135,206 shares of the company’s stock valued at $17,509,000 after acquiring an additional 23,456 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 2.4 %

LYV opened at $125.05 on Friday. The firm has a market capitalization of $29.19 billion, a P/E ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a fifty day moving average price of $138.14 and a 200-day moving average price of $128.62. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on LYV. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Company 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.