Live Nation Entertainment, Inc. $LYV Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 53,855 shares of the company’s stock after buying an additional 5,936 shares during the quarter. Handelsbanken Fonder AB’s holdings in Live Nation Entertainment were worth $9,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Empowered Funds LLC lifted its holdings in shares of Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after buying an additional 547 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after purchasing an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $186.36 on Friday. The stock has a market cap of $43.91 billion, a PE ratio of -164.92 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $188.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The business has a fifty day simple moving average of $178.08 and a 200-day simple moving average of $164.90.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on LYV. Weiss Ratings cut shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 31st. Susquehanna upped their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Morgan Stanley increased their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Citigroup lifted their target price on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, UBS Group boosted their target price on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $197.19.

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.