E. Ohman J or Asset Management AB Buys Shares of 5,240 Live Nation Entertainment, Inc. $LYV

Key Points

• E. Ohman J or Asset Management AB purchased 5,240 shares of Live Nation Entertainment, Inc. for approximately $793,000 in the second quarter.
• Live Nation reported $0.41 earnings per share for the quarter, missing estimates, but saw revenue grow to $7.01 billion, exceeding expectations.
• Multiple institutional investors, including Vanguard Group and Canada Pension Plan Investment Board, increased their stakes in Live Nation, indicating strong confidence in the company.

E. Ohman J or Asset Management AB bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,240 shares of the company's stock, valued at approximately $793,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Live Nation Entertainment by 3.7% in the first quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock valued at $2,596,305,000 after purchasing an additional 713,020 shares during the period. Canada Pension Plan Investment Board raised 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 valued at $1,179,129,000 after purchasing an additional 379,924 shares during the period. Principal Financial Group Inc. raised 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 valued at $991,952,000 after purchasing an additional 294,310 shares during the period. Independent Franchise Partners LLP raised 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 valued at $744,118,000 after purchasing an additional 1,004,574 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of 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 valued at $366,195,000 after buying an additional 884,745 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.5%

Live Nation Entertainment stock opened at $172.84 on Tuesday. Live Nation Entertainment, Inc. has a twelve month low of $99.17 and a twelve month high of $175.25. The stock has a 50 day moving average of $157.53 and a two-hundred day moving average of $143.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 74.82, a PEG ratio of 11.72 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on LYV. Sanford C. Bernstein began coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Citigroup increased their price target on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Wolfe Research increased their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Live Nation Entertainment has an average rating of "Buy" and a consensus price target of $170.72.

Live Nation Entertainment Company 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.

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