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

Key Points

• Handelsbanken Fonder AB increased its Live Nation Entertainment stake by 12.4% in the second quarter, adding 5,936 shares to own 53,855 shares valued at approximately $9.86 million. Institutional investors collectively hold 74.52% of LYV stock.
• Analysts remain broadly positive, with 20 Buy ratings and a consensus “Moderate Buy” rating. The average price target is $197.19, while recent targets range as high as $222.
• Live Nation reported quarterly adjusted earnings of $1.05 per share, beating estimates of $0.66, while revenue rose 9.4% year over year to $7.67 billion, ahead of the $7.56 billion consensus.

Handelsbanken Fonder AB grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 12.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,855 shares of the company's stock after buying an additional 5,936 shares during the quarter. Handelsbanken Fonder AB's holdings in Live Nation Entertainment were worth $9,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC bought a new position in Live Nation Entertainment during the 2nd quarter valued at $26,000. Leonteq Securities AG acquired a new position in Live Nation Entertainment in the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new stake in Live Nation Entertainment in the fourth quarter valued at about $26,000. Elyxium Wealth LLC bought a new stake in Live Nation Entertainment in the fourth quarter valued at about $30,000. Finally, DV Equities LLC acquired a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $31,000. Institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LYV shares. Rothschild & Co Redburn lifted their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Benchmark raised their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Citigroup lifted their price objective on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. UBS Group increased their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, Wells Fargo & Company lifted their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.19.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $186.36 on Friday. The firm has a fifty day moving average of $178.08 and a 200-day moving average of $164.90. The company has a market cap of $43.91 billion, a price-to-earnings ratio of -164.92 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $188.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm posted $0.41 EPS. Live Nation Entertainment's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Live Nation Entertainment 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source