Swiss Life Asset Management Ltd Sells 7,656 Shares of Live Nation Entertainment, Inc. $LYV

Swiss Life Asset Management Ltd cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 28.2% in the fourth quarter, HoldingsChannel reports. The firm owned 19,526 shares of the company’s stock after selling 7,656 shares during the period. Swiss Life Asset Management Ltd’s holdings in Live Nation Entertainment were worth $2,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after purchasing an additional 1,763,511 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in Live Nation Entertainment during the 3rd quarter valued at $1,606,000. Profund Advisors LLC raised its position in Live Nation Entertainment by 51.1% during the 3rd quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock valued at $1,820,000 after purchasing an additional 3,767 shares in the last quarter. EFG Asset Management North America Corp. bought a new stake in Live Nation Entertainment during the 3rd quarter valued at $1,191,000. Finally, J. Safra Sarasin Holding AG bought a new stake in Live Nation Entertainment during the 3rd quarter valued at $2,015,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 0.9%

Shares of LYV stock opened at $169.97 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $175.25. The stock’s fifty day moving average price is $158.15 and its 200 day moving average price is $149.08. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $40.04 billion, a price-to-earnings ratio of -96.03 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its 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). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of a number of analyst reports. Citizens Jmp initiated coverage on Live Nation Entertainment in a report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target on the stock. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Evercore reiterated an “outperform” rating and issued a $198.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Wolfe Research lifted 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. Finally, Sanford C. Bernstein lifted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.75.

Insider Buying and Selling

In related news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 157,798 shares of company stock worth $26,088,615 in the last ninety days. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Company 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.