Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Position in Live Nation Entertainment, Inc. $LYV

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,112 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Live Nation Entertainment were worth $3,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company’s stock valued at $2,596,305,000 after acquiring an additional 713,020 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Live Nation Entertainment by 4.4% in the first quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company’s stock worth $1,179,129,000 after acquiring an additional 379,924 shares in the last quarter. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 4.0% in the first quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company’s stock worth $991,952,000 after acquiring an additional 294,310 shares in the last quarter. Independent Franchise Partners LLP grew its position in Live Nation Entertainment by 21.4% in the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock worth $744,118,000 after acquiring an additional 1,004,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Live Nation Entertainment by 46.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock worth $366,195,000 after acquiring an additional 884,745 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LYV shares. Oppenheimer raised their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Benchmark increased their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, Citigroup decreased their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $171.89.

Live Nation Entertainment Stock Down 0.7%

Shares of NYSE LYV opened at $148.20 on Friday. The firm’s fifty day moving average is $160.92 and its 200 day moving average is $150.25. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market cap of $34.75 billion, a price-to-earnings ratio of 64.15, a PEG ratio of 12.85 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment 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.