KLP Kapitalforvaltning AS Has $8.91 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

KLP Kapitalforvaltning AS trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,900 shares of the company’s stock after selling 100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Live Nation Entertainment were worth $8,910,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new position in Live Nation Entertainment in the first quarter valued at approximately $1,153,000. Praxis Investment Management Inc. lifted its stake in Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock valued at $726,000 after buying an additional 1,730 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Live Nation Entertainment in the first quarter valued at approximately $272,000. Teacher Retirement System of Texas bought a new position in Live Nation Entertainment in the first quarter valued at approximately $3,081,000. Finally, Personal CFO Solutions LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $277,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LYV shares. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 price target on the stock. Citigroup boosted their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Guggenheim reissued a “buy” rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $171.42.

Live Nation Entertainment Price Performance

Shares of LYV opened at $152.54 on Friday. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 66.03, a PEG ratio of 9.91 and a beta of 1.40. Live Nation Entertainment, Inc. has a 1-year low of $111.83 and a 1-year high of $175.25. The company’s fifty day simple moving average is $161.78 and its 200 day simple moving average is $147.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.Live Nation Entertainment’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 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.