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

Swiss National Bank increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 477,300 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank’s holdings in Live Nation Entertainment were worth $52,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in Live Nation Entertainment in the second quarter worth about $748,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Live Nation Entertainment by 22.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock valued at $10,873,000 after acquiring an additional 18,931 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $3,985,000. Finally, Czech National Bank raised its stake in Live Nation Entertainment by 17.5% during the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after acquiring an additional 4,761 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the transaction, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,799 shares of company stock worth $16,449,718 in the last 90 days. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE LYV opened at $136.51 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $136.54. The company has a market cap of $31.72 billion, a PE ratio of 145.22, a PEG ratio of 3.44 and a beta of 1.33. The stock’s 50-day moving average price is $115.09 and its two-hundred day moving average price is $101.62.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.08 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday. Evercore ISI upped their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Citigroup lifted their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

About Live Nation Entertainment

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.