KLP Kapitalforvaltning AS Makes New $6.76 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

KLP Kapitalforvaltning AS acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,200 shares of the company's stock, valued at approximately $6,760,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company's stock valued at $945,635,000 after purchasing an additional 105,648 shares during the period. Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock worth $410,664,000 after buying an additional 321,832 shares during the last quarter. Cantillon Capital Management LLC grew its position in shares of Live Nation Entertainment by 0.5% during the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company's stock worth $385,575,000 after buying an additional 15,891 shares during the period. William Blair Investment Management LLC increased its stake in shares of Live Nation Entertainment by 18.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company's stock valued at $234,388,000 after acquiring an additional 284,623 shares during the last quarter. Finally, Amundi raised its position in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after acquiring an additional 39,302 shares during the period. 74.52% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

LYV has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. 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 note on Thursday, February 13th. Morgan Stanley increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Guggenheim raised their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $157.27.

Live Nation Entertainment Stock Performance

LYV stock traded down $3.03 during trading hours on Friday, reaching $125.05. The stock had a trading volume of 1,731,244 shares, compared to its average volume of 2,200,612. 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 stock has a 50-day simple moving average of $138.14 and a 200 day simple moving average of $128.62. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,066 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company's stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 over the last 90 days. 2.72% of the stock is owned by corporate 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.