Forsta AP Fonden Has $9.86 Million Stock Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Forsta AP Fonden more than doubled its stake in Live Nation Entertainment in the fourth quarter, increasing holdings by 104.7% to 69,200 shares worth about $9.86 million.
• Institutional ownership remains heavy, with 74.52% of Live Nation’s stock held by institutions and hedge funds; several large investors, including Vanguard and Principal Financial Group, also boosted their positions.
• Wall Street is generally upbeat on LYV, with 20 Buy ratings and a consensus Moderate Buy target of $187.75, even after the company reported a quarterly EPS miss while revenue came in above estimates.

Forsta AP Fonden grew its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 104.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 69,200 shares of the company's stock after buying an additional 35,400 shares during the period. Forsta AP Fonden's holdings in Live Nation Entertainment were worth $9,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company's stock valued at $3,378,970,000 after buying an additional 372,715 shares during the period. Principal Financial Group Inc. grew its stake in shares of Live Nation Entertainment by 10.3% during the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares during the period. Capital World Investors grew its stake in shares of Live Nation Entertainment by 4.8% during the third quarter. Capital World Investors now owns 5,145,834 shares of the company's stock worth $840,829,000 after purchasing an additional 237,342 shares during the period. Geode Capital Management LLC grew its stake in shares of Live Nation Entertainment by 0.5% during the fourth 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 during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Live Nation Entertainment by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company's stock worth $455,355,000 after purchasing an additional 123,800 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Citizens Jmp initiated coverage on Live Nation Entertainment in a research note on Monday, March 30th. They set a "market outperform" rating and a $190.00 price objective for the company. Wells Fargo & Company decreased their price objective on Live Nation Entertainment from $203.00 to $199.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Roth Mkm reaffirmed a "buy" rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $187.75.

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 dated Friday, May 8th. The stock was 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 directly owned 204,716 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 157,798 shares of company stock valued at $26,088,615. Company insiders own 2.89% of the company's stock.

Live Nation Entertainment Stock Down 0.0%

NYSE:LYV opened at $168.34 on Monday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $39.65 billion, a price-to-earnings ratio of -95.11 and a beta of 1.12. The stock has a 50-day moving average price of $159.65 and a two-hundred day moving average price of $150.64.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current year.

About Live Nation Entertainment

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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