Forsta AP Fonden Sells 5,500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Forsta AP Fonden decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,000 shares of the company’s stock after selling 5,500 shares during the quarter. Forsta AP Fonden’s holdings in Live Nation Entertainment were worth $10,230,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $31,000. World Investment Advisors LLC bought a new stake in Live Nation Entertainment in the third quarter worth $38,000. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the third quarter worth $41,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment during the third quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore ISI boosted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen raised their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Bank of America increased their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Roth Mkm upped their price target on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer boosted their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Trading Up 1.1 %

NYSE:LYV opened at $144.10 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a fifty day simple moving average of $135.15 and a 200-day simple moving average of $116.12. Live Nation Entertainment, Inc. has a 12 month low of $86.67 and a 12 month high of $144.80. The company has a market capitalization of $33.48 billion, a P/E ratio of 153.30, a PEG ratio of 1.61 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the previous year, the business posted $1.78 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current 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.