47,348 Shares in Live Nation Entertainment, Inc. $LYV Acquired by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 47,348 shares of the company’s stock, valued at approximately $7,221,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Bessemer Group Inc. raised its holdings in Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after acquiring an additional 759,363 shares during the last quarter. Geode Capital Management LLC lifted its stake in Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares in the last quarter. CenterBook Partners LP boosted its holdings in shares of Live Nation Entertainment by 780.1% during the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after purchasing an additional 19,627 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Live Nation Entertainment by 14.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock valued at $88,227,000 after purchasing an additional 78,171 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after purchasing an additional 123,800 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 1.7%

Shares of LYV opened at $177.77 on Wednesday. The company’s 50-day simple moving average is $173.01 and its 200-day simple moving average is $160.49. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $188.00. The stock has a market capitalization of $41.87 billion, a PE ratio of -100.43 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced 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). The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. Analysts forecast that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYV. Roth Capital reiterated a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Zacks Research downgraded Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Morgan Stanley lifted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Nineteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $193.75.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

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.