Danske Bank A S Makes New $17.70 Million Investment in Live Nation Entertainment, Inc. $LYV

Danske Bank A S bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 96,687 shares of the company’s stock, valued at approximately $17,704,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Live Nation Entertainment in the 4th quarter worth approximately $285,924,000. Sachem Head Capital Management LP purchased a new stake in Live Nation Entertainment during the 4th quarter valued at $173,380,000. Jericho Capital Asset Management L.P. increased its holdings in shares of Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock worth $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 1.3%

LYV opened at $181.79 on Friday. The firm’s 50 day simple moving average is $180.00 and its two-hundred day simple moving average is $166.20. The company has a market capitalization of $42.84 billion, a PE ratio of -160.88 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LYV shares. Benchmark lifted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company raised their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Guggenheim lifted their price target on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Oppenheimer set a $100.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.