Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 23,500 Shares of Live Nation Entertainment, Inc. $LYV

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 85.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,994 shares of the company’s stock after purchasing an additional 23,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Live Nation Entertainment were worth $7,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Leonteq Securities AG acquired a new stake in Live Nation Entertainment in the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $26,000. Ameriflex Group Inc. lifted its holdings in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $30,000. Finally, DV Equities LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $31,000. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Down 0.3%

Shares of NYSE LYV opened at $186.07 on Monday. The company has a market cap of $43.83 billion, a price-to-earnings ratio of -105.13 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $187.63. The stock has a 50-day moving average price of $167.83 and a two-hundred day moving average price of $157.22.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LYV shares. Guggenheim lifted their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wolfe Research raised their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.