Live Nation Entertainment, Inc. $LYV Position Raised by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden increased its Live Nation Entertainment stake by 85.5% in the first quarter, buying 23,500 more shares and bringing its total holdings to 50,994 shares valued at about $7.8 million.
• Several company insiders sold shares in May, including EVP Michael Rowles and EVP John Hopmans, while insiders still hold about 2.89% of the stock.
• Live Nation reported strong revenue growth of $3.79 billion for the quarter, but earnings missed expectations with EPS of ($1.85) versus a consensus estimate of ($0.35); analysts still mostly rate the stock a Moderate Buy with a consensus target price of $188.50.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 85.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,994 shares of the company's stock after buying an additional 23,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Live Nation Entertainment were worth $7,777,000 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 company. Axxcess Wealth Management LLC grew its stake in shares of Live Nation Entertainment by 4.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company's stock worth $228,000 after purchasing an additional 75 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company's stock valued at $548,000 after acquiring an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. boosted its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company's stock worth $272,000 after purchasing an additional 80 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of Live Nation Entertainment by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company's stock valued at $972,000 after purchasing an additional 82 shares in the last quarter. Finally, Ameriflex Group Inc. boosted its position in shares of Live Nation Entertainment by 102.4% in 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 period. 74.52% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction 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 $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.89% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Down 0.3%

LYV opened at $186.07 on Monday. The business has a 50 day moving average of $167.83 and a 200-day moving average of $157.22. The stock has a market capitalization of $43.83 billion, a price-to-earnings ratio of -105.13 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $187.63.

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). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company earned ($0.32) earnings per share. Live Nation Entertainment's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on LYV. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday, May 6th. Susquehanna raised their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Rothschild & Co Redburn upped their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Citizens Jmp initiated coverage on Live Nation Entertainment in a report on Monday, March 30th. They set a "market outperform" rating and a $190.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price target on Live Nation Entertainment from $203.00 to $199.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $188.50.

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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