Fjarde AP Fonden Fourth Swedish National Pension Fund Takes Position in Live Nation Entertainment, Inc. (LYV)

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the first quarter, Holdings Channel reports. The fund bought 68,953 shares of the company’s stock, valued at approximately $4,381,000.

Other hedge funds also recently made changes to their positions in the company. Exane Derivatives bought a new position in Live Nation Entertainment during the fourth quarter worth $32,000. Captrust Financial Advisors bought a new position in Live Nation Entertainment during the fourth quarter worth $35,000. CWM LLC increased its position in Live Nation Entertainment by 59.5% during the first quarter. CWM LLC now owns 622 shares of the company’s stock worth $40,000 after acquiring an additional 232 shares during the period. Hanseatic Management Services Inc. increased its position in Live Nation Entertainment by 52.0% during the fourth quarter. Hanseatic Management Services Inc. now owns 1,201 shares of the company’s stock worth $59,000 after acquiring an additional 411 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Live Nation Entertainment by 6,602.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock worth $72,000 after acquiring an additional 3,511,969 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

LYV opened at $64.34 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $42.22 and a fifty-two week high of $67.00. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $13.61 billion, a price-to-earnings ratio of -714.89 and a beta of 1.14.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.03. Live Nation Entertainment had a net margin of 0.40% and a return on equity of 3.04%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.44 EPS for the current fiscal year.

A number of brokerages recently issued reports on LYV. Zacks Investment Research lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Stephens boosted their target price on shares of Live Nation Entertainment to $70.00 and gave the stock an “overweight” rating in a research report on Friday, March 29th. Finally, Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $59.00 to $63.00 in a research note on Friday, March 15th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.61.

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About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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