Live Nation Entertainment, Inc. $LYV Shares Bought by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its stake in Live Nation Entertainment by 201.5% in the fourth quarter, bringing its holdings to 22,908 shares worth about $3.26 million.
• Live Nation reported better-than-expected revenue of $3.79 billion for the latest quarter, but earnings missed estimates sharply with EPS of -$1.85 versus the -$0.35 consensus.
• Analysts remain broadly positive on the stock, with 20 Buy ratings and an average price target of $187.75, while the shares recently traded around $165.74.

Handelsbanken Fonder AB raised its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 201.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,908 shares of the company's stock after purchasing an additional 15,310 shares during the period. Handelsbanken Fonder AB's holdings in Live Nation Entertainment were worth $3,264,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company's stock valued at $3,378,970,000 after purchasing an additional 372,715 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock valued at $1,528,700,000 after purchasing an additional 1,001,905 shares during the last quarter. Capital World Investors grew its holdings in Live Nation Entertainment by 4.8% in the third quarter. Capital World Investors now owns 5,145,834 shares of the company's stock valued at $840,829,000 after purchasing an additional 237,342 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company's stock valued at $455,355,000 after purchasing an additional 123,800 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock valued at $262,733,000 after purchasing an additional 759,363 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Buying and Selling

In related news, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 157,798 shares of company stock worth $26,088,615. 2.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. TD Cowen reissued a "buy" rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Rothschild & Co Redburn upped their target price on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Bank of America upped their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Finally, Oppenheimer restated an "outperform" rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average price target of $187.75.

Live Nation Entertainment Stock Down 0.1%

Shares of NYSE:LYV opened at $165.74 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25. The stock's fifty day simple moving average is $158.63 and its 200-day simple moving average is $149.75. The company has a market capitalization of $39.04 billion, a P/E ratio of -93.64 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (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 during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The firm's revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

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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