1,976,484 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Norges Bank

Norges Bank bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,976,484 shares of the company’s stock, valued at approximately $255,955,000. Norges Bank owned about 0.85% of Live Nation Entertainment as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the third quarter valued at about $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $40,000. Morse Asset Management Inc bought a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $42,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LYV. Guggenheim increased their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Price Performance

LYV stock opened at $125.05 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a market capitalization of $29.19 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company’s 50-day moving average is $138.14 and its 200-day moving average is $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 announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, 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 transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 company insiders.

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.