KLP Kapitalforvaltning AS Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

KLP Kapitalforvaltning AS purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 52,200 shares of the company’s stock, valued at approximately $6,760,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ValueAct Holdings L.P. purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at $111,094,000. PointState Capital LP bought a new stake in Live Nation Entertainment in the 3rd quarter worth about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after buying an additional 387,008 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after acquiring an additional 321,832 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Live Nation Entertainment by 18.7% in the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after acquiring an additional 284,623 shares during the period. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LYV. Bank of America raised their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Morgan Stanley increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Roth Mkm boosted their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 in the last 90 days. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $127.15 on Wednesday. The stock has a 50-day moving average price of $138.58 and a 200 day moving average price of $128.19. 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, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The stock has a market capitalization of $29.68 billion, a P/E ratio of 46.75, a P/E/G ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released 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. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS 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.