Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.95 Million Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund sold 4,400 shares of Live Nation Entertainment, reducing its stake by 16.3% and now holds a total of 22,612 shares valued at approximately $2.95 million.
• Other notable investors, including Vanguard Group and Principal Financial Group, have increased their positions in Live Nation, contributing to a total of 74.52% of the stock being owned by institutional investors.
• Live Nation reported $7.01 billion in revenue for the last quarter, exceeding expectations, though its earnings per share fell short of consensus estimates at $0.41 compared to an expected $1.08.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,612 shares of the company's stock after selling 4,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Live Nation Entertainment were worth $2,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. National Pension Service boosted its stake in Live Nation Entertainment by 2.5% in the 1st quarter. National Pension Service now owns 279,606 shares of the company's stock worth $36,511,000 after purchasing an additional 6,704 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in Live Nation Entertainment by 7.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 50,043 shares of the company's stock valued at $6,492,000 after purchasing an additional 3,418 shares during the last quarter. Rathbones Group PLC lifted its stake in Live Nation Entertainment by 1,474.1% in the 1st quarter. Rathbones Group PLC now owns 68,078 shares of the company's stock valued at $8,890,000 after purchasing an additional 63,753 shares during the last quarter. Callan Family Office LLC lifted its stake in Live Nation Entertainment by 1.8% in the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock valued at $732,000 after purchasing an additional 98 shares during the last quarter. Finally, Anfield Capital Management LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at about $1,270,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Guggenheim reissued a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Oppenheimer increased their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Moffett Nathanson started coverage on shares of Live Nation Entertainment in a report on Monday. They set a "buy" rating and a $195.00 target price on the stock. Finally, Wolfe Research raised their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $168.94.

Live Nation Entertainment Trading Down 0.5%

Shares of NYSE:LYV traded down $0.8410 during mid-day trading on Wednesday, reaching $162.0590. 1,836,835 shares of the company's stock were exchanged, compared to its average volume of 2,500,783. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 70.16, a PEG ratio of 9.78 and a beta of 1.46. The business's fifty day moving average price is $149.97 and its 200-day moving average price is $140.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a twelve month low of $92.57 and a twelve month high of $164.06.

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

Live Nation Entertainment 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.