Forsta AP Fonden Purchases 35,400 Shares of Live Nation Entertainment, Inc. $LYV

Forsta AP Fonden grew its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 104.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 69,200 shares of the company’s stock after buying an additional 35,400 shares during the quarter. Forsta AP Fonden’s holdings in Live Nation Entertainment were worth $9,861,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Leonteq Securities AG bought a new stake in Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new stake in Live Nation Entertainment during the fourth quarter worth about $26,000. Ameriflex Group Inc. raised its holdings in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after acquiring an additional 84 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Live Nation Entertainment during the fourth quarter worth about $30,000. Finally, Blue Trust Inc. raised its holdings in Live Nation Entertainment by 62.6% during the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after acquiring an additional 107 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 157,798 shares of company stock valued at $26,088,615 over the last 90 days. 2.89% of the stock is currently owned by insiders.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $168.34 on Monday. The business’s 50 day moving average price is $159.65 and its two-hundred day moving average price is $150.64. The company has a market cap of $39.65 billion, a PE ratio of -95.11 and a beta of 1.12. 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 twelve month low of $125.34 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on LYV. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings upgraded Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Evercore reiterated an “outperform” rating and set a $198.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Finally, Susquehanna upped their target price on Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Twenty equities 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 presently has a consensus rating of “Moderate Buy” and an average price target of $187.75.

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.