2,006,483 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Norges Bank

Key Points

• Norges Bank initiated a major new position in Live Nation Entertainment, buying 2,006,483 shares worth about $285.9 million in the fourth quarter, equal to roughly 0.85% of the company.
• Live Nation's stock was down 1.6% in recent trading, opening at $167.72, while the company carries a market value of about $39.5 billion.
• The company’s latest earnings showed a big EPS miss at $(1.85) versus expectations of $(0.35), but revenue came in above estimates at $3.79 billion, up 12.1% year over year.

Norges Bank bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,006,483 shares of the company's stock, valued at approximately $285,924,000. Norges Bank owned about 0.85% of Live Nation Entertainment at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new position in Live Nation Entertainment during the fourth quarter worth about $26,000. Ameriflex Group Inc. boosted its holdings in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after buying an additional 84 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $30,000. Finally, Blue Trust Inc. lifted its holdings in shares of Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company's stock valued at $40,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Down 1.6%

NYSE LYV opened at $167.72 on Wednesday. The stock has a market capitalization of $39.51 billion, a price-to-earnings ratio of -94.76 and a beta of 1.12. The stock's 50 day moving average price is $159.97 and its two-hundred day moving average price is $150.84. 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 52 week low of $125.34 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate 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 was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYV. Bank of America lifted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, February 20th. Zacks Research upgraded Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Morgan Stanley reiterated an "overweight" rating and set a $185.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Jefferies Financial Group reiterated a "hold" rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Finally, Guggenheim lifted their price objective on Live Nation Entertainment from $192.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $187.75.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the business'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 value of $156,581.28. Following the sale, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 157,798 shares of company stock worth $26,088,615. Corporate insiders own 2.89% of the company's stock.

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.

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