Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455,400 shares of the company’s stock after selling 21,900 shares during the period. Swiss National Bank owned 0.20% of Live Nation Entertainment worth $58,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment during the third quarter worth about $31,000. World Investment Advisors LLC purchased a new position in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $38,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last ninety days. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Up 3.0 %

Shares of Live Nation Entertainment stock opened at $119.25 on Friday. The business has a 50 day moving average price of $139.52 and a 200 day moving average price of $126.62. The company has a market capitalization of $27.83 billion, a P/E ratio of 43.84, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on LYV shares. Bank of America raised their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley lifted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Citigroup raised their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment 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.