Forsta AP Fonden Sells 16,900 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Forsta AP Fonden reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,100 shares of the company’s stock after selling 16,900 shares during the quarter. Forsta AP Fonden’s holdings in Live Nation Entertainment were worth $7,884,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares during the last quarter. Nordea Investment Management AB lifted its position in Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after purchasing an additional 187,839 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Live Nation Entertainment by 2,723.0% during the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after purchasing an additional 413,545 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Live Nation Entertainment by 7.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock worth $205,144,000 after purchasing an additional 153,825 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Live Nation Entertainment in the first quarter worth $1,454,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Macquarie restated an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Finally, Oppenheimer boosted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.46.

Insider Activity

In related news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $98.85 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The firm has a market capitalization of $22.71 billion, a P/E ratio of 94.14, a P/E/G ratio of 2.29 and a beta of 1.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The business has a fifty day simple moving average of $94.89 and a two-hundred day simple moving average of $95.91.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.02 earnings per share. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

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.