Handelsbanken Fonder AB Grows Stock Position in Live Nation Entertainment, Inc. $LYV

Handelsbanken Fonder AB increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 201.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,908 shares of the company’s stock after buying an additional 15,310 shares during the quarter. Handelsbanken Fonder AB’s holdings in Live Nation Entertainment were worth $3,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LYV. Vanguard Group Inc. increased its stake in Live Nation Entertainment by 1.8% during the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after acquiring an additional 372,715 shares during the last quarter. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 10.3% during the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after acquiring an additional 1,001,905 shares during the last quarter. Capital World Investors increased its stake in Live Nation Entertainment by 4.8% during the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after acquiring an additional 237,342 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Live Nation Entertainment by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after acquiring an additional 123,800 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after acquiring an additional 759,363 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $165.74 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $175.25. The business has a 50 day moving average price of $158.63 and a two-hundred day moving average price of $149.75. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a market cap of $39.04 billion, a PE ratio of -93.64 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned ($0.32) EPS. Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director owned 48,030 shares in the company, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 157,798 shares of company stock worth $26,088,615 in the last 90 days. 2.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday, May 6th. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Rothschild & Co Redburn upped their price target on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $187.75.

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.