Swiss National Bank Sells 13,800 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Swiss National Bank lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,800 shares of the company’s stock after selling 13,800 shares during the period. Swiss National Bank owned approximately 0.22% of Live Nation Entertainment worth $47,156,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of Nova Scotia boosted its stake in Live Nation Entertainment by 6.9% during the third quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock worth $46,566,000 after acquiring an additional 36,298 shares in the last quarter. Bank of New Hampshire bought a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $1,735,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Live Nation Entertainment by 13.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 567,995 shares of the company’s stock worth $53,164,000 after buying an additional 66,390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Live Nation Entertainment by 77.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,198 shares of the company’s stock valued at $3,201,000 after acquiring an additional 14,928 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in Live Nation Entertainment in the 4th quarter valued at approximately $1,151,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 1.3 %

NYSE LYV opened at $95.89 on Tuesday. The stock’s 50-day moving average price is $98.60 and its 200-day moving average price is $91.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24. The company has a market capitalization of $22.19 billion, a P/E ratio of 91.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the business earned ($0.25) EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LYV shares. Roth Mkm restated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Morgan Stanley upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Rosenblatt Securities upped their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

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.