Swiss National Bank Increases Holdings in Live Nation Entertainment, Inc. $LYV

Swiss National Bank lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,000 shares of the company’s stock after purchasing an additional 32,800 shares during the period. Swiss National Bank owned about 0.20% of Live Nation Entertainment worth $72,747,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in LYV. Leonteq Securities AG bought a new stake in Live Nation Entertainment in the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $30,000. DV Equities LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. raised its holdings in shares of Live Nation Entertainment by 62.6% in the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after purchasing an additional 107 shares during the period. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, 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 transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Down 1.7%

Shares of NYSE:LYV opened at $177.77 on Wednesday. The firm has a fifty day moving average price of $173.01 and a two-hundred day moving average price of $160.49. The company has a market cap of $41.87 billion, a price-to-earnings ratio of -100.43 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00.

Live Nation Entertainment (NYSE:LYVGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LYV shares. Rothschild & Co Redburn increased their price objective on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Nineteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $193.75.

Get Our Latest Analysis on Live Nation Entertainment

About Live Nation Entertainment

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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