Tredje AP fonden Lowers Holdings in Live Nation Entertainment, Inc. $LYV

Tredje AP fonden reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 14.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,191 shares of the company’s stock after selling 3,446 shares during the quarter. Tredje AP fonden’s holdings in Live Nation Entertainment were worth $2,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after purchasing an additional 1,001,905 shares during the period. Capital World Investors boosted its stake in shares of Live Nation Entertainment by 4.8% in 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 period. Massachusetts Financial Services Co. MA boosted its stake in Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after purchasing an additional 123,800 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after buying an additional 759,363 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 157,798 shares of company stock valued at $26,088,615. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Trading Down 2.6%

Shares of Live Nation Entertainment stock opened at $163.20 on Wednesday. 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 1 year low of $125.34 and a 1 year high of $175.25. The firm has a fifty day moving average price of $158.64 and a 200 day moving average price of $149.40. The stock has a market cap of $38.44 billion, a PE ratio of -92.21 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm earned ($0.32) earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America boosted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Moffett Nathanson cut their price target on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Sanford C. Bernstein boosted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $187.75.

Live Nation Entertainment 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.