DekaBank Deutsche Girozentrale Has $2.47 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

DekaBank Deutsche Girozentrale lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 54.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,243 shares of the company’s stock after selling 32,286 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Live Nation Entertainment were worth $2,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYV. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment in the first quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Rise Advisors LLC increased its position in shares of Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares during the last quarter. Lindbrook Capital LLC boosted its position in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $102.80 on Thursday. 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 stock has a 50 day simple moving average of $95.19 and a 200 day simple moving average of $96.01. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24. The stock has a market cap of $23.62 billion, a P/E ratio of 97.90, a PEG ratio of 2.29 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of analyst reports. Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Benchmark reiterated a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Morgan Stanley restated an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $119.46.

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.