Swiss National Bank Lowers Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Swiss National Bank lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 503,800 shares of the company’s stock after selling 13,800 shares during the period. Swiss National Bank’s holdings in Live Nation Entertainment were worth $47,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board grew its holdings in shares of Live Nation Entertainment by 5.1% during the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after buying an additional 429,650 shares during the last quarter. Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after purchasing an additional 33,215 shares during the period. Findlay Park Partners LLP lifted its position in Live Nation Entertainment by 55.1% in the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after purchasing an additional 1,087,264 shares during the period. William Blair Investment Management LLC lifted its position in Live Nation Entertainment by 5.7% in the third quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock valued at $221,858,000 after purchasing an additional 144,326 shares during the period. Finally, Jericho Capital Asset Management L.P. lifted its position in Live Nation Entertainment by 52.8% in the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after purchasing an additional 726,000 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LYV. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Rosenblatt Securities lifted their price target on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Friday. Finally, TD Cowen reiterated a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Live Nation Entertainment Trading Up 1.3 %

Shares of Live Nation Entertainment stock opened at $95.89 on Tuesday. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. The company has a market capitalization of $22.19 billion, a P/E ratio of 91.32, a P/E/G ratio of 1.92 and a beta of 1.34. The business has a 50 day moving average price of $98.60 and a 200 day moving average price of $91.79.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.85% of the stock is owned by corporate insiders.

Live Nation Entertainment Company 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.