Skandinaviska Enskilda Banken AB publ Buys 1,800 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Live Nation Entertainment by 5.6%, acquiring an additional 1,800 shares, bringing its total holdings to 33,720 shares valued at approximately $4.4 million.
• Live Nation's stock price is currently $150.60, with a significant market capitalization of $34.90 billion and trading volumes surpassing its average significantly.
• The company reported a quarterly loss per share of ($0.32), missing expectations, with revenues of $3.38 billion, marking an 11% decline year-over-year.

Skandinaviska Enskilda Banken AB publ grew its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,720 shares of the company's stock after acquiring an additional 1,800 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Live Nation Entertainment were worth $4,403,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LYV. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $30,000. Chilton Capital Management LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $33,000. GW&K Investment Management LLC increased its stake in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after acquiring an additional 196 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Down 1.3%

Shares of Live Nation Entertainment stock traded down $1.85 during trading on Friday, hitting $145.85. The company's stock had a trading volume of 701,857 shares, compared to its average volume of 2,495,199. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75. The stock has a market cap of $33.80 billion, a price-to-earnings ratio of 49.86, a price-to-earnings-growth ratio of 5.92 and a beta of 1.45. The stock has a 50-day moving average price of $146.35 and a two-hundred day moving average price of $139.39.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business's revenue was down 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Rosenblatt Securities decreased their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price on the stock. Guggenheim reaffirmed a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $165.82.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.01% of the company's stock.

Live Nation Entertainment Company 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.