Swiss National Bank Cuts Stock Position in Live Nation Entertainment, Inc. $LYV

Swiss National Bank decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.5% in the third quarter, HoldingsChannel reports. The fund owned 467,700 shares of the company’s stock after selling 22,100 shares during the quarter. Swiss National Bank’s holdings in Live Nation Entertainment were worth $76,422,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vident Advisory LLC increased its position in shares of Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Live Nation Entertainment by 24.4% in the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after purchasing an additional 82 shares in the last quarter. Ameriflex Group Inc. grew its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the last quarter. GW&K Investment Management LLC raised its stake in Live Nation Entertainment by 22.2% in the third quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock valued at $76,000 after buying an additional 85 shares during the last quarter. Finally, Alteri Wealth LLC boosted its holdings in Live Nation Entertainment by 5.1% in the third quarter. Alteri Wealth LLC now owns 1,841 shares of the company’s stock worth $301,000 after acquiring an additional 89 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $165.89 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The business’s 50 day moving average price is $150.83 and its 200 day moving average price is $150.44. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm has a market cap of $38.95 billion, a P/E ratio of -691.20 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYV. Wolfe Research upped their price objective on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 20th. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $175.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Guggenheim reiterated a “buy” rating and set a $180.00 price objective on shares of Live Nation Entertainment in a research note on Monday. Finally, Evercore reissued an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.65.

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.