Swiss National Bank Sells 22,100 Shares of Live Nation Entertainment, Inc. $LYV

Swiss National Bank decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 467,700 shares of the company’s stock after selling 22,100 shares during the period. Swiss National Bank owned about 0.20% of Live Nation Entertainment worth $76,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings 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 buying an additional 1,763,511 shares in the last quarter. Norges Bank bought a new position in Live Nation Entertainment in the 2nd quarter worth about $198,336,000. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 2.1% during the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after acquiring an additional 423,541 shares during the period. Holocene Advisors LP bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $54,126,000. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Live Nation Entertainment by 110.2% in the second quarter. Westfield Capital Management Co. LP now owns 677,730 shares of the company’s stock valued at $102,527,000 after purchasing an additional 355,279 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Sanford C. Bernstein raised their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Roth Mkm reissued a “buy” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Rothschild & Co Redburn upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the company from $166.00 to $193.00 in a research note on Friday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Live Nation Entertainment in a report on Monday. Finally, Wells Fargo & Company assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, February 25th. They set an “overweight” rating and a $204.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.65.

Live Nation Entertainment Stock Up 0.2%

Live Nation Entertainment stock opened at $165.89 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm has a market cap of $38.95 billion, a P/E ratio of -691.20 and a beta of 1.11. The business has a fifty day moving average of $150.83 and a two-hundred day moving average of $150.44. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 earnings per share. On average, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.