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

Swiss National Bank trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 481,100 shares of the company’s stock after selling 7,600 shares during the quarter. Swiss National Bank owned 0.23% of Live Nation Entertainment worth $31,873,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Findlay Park Partners LLP lifted its holdings in shares of Live Nation Entertainment by 10.8% in the first quarter. Findlay Park Partners LLP now owns 5,627,885 shares of the company’s stock valued at $357,596,000 after purchasing an additional 550,000 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Live Nation Entertainment by 3.7% in the first quarter. Clearbridge Investments LLC now owns 3,162,149 shares of the company’s stock valued at $200,923,000 after purchasing an additional 112,797 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Live Nation Entertainment by 123.1% in the first quarter. Victory Capital Management Inc. now owns 1,884,233 shares of the company’s stock valued at $119,724,000 after purchasing an additional 1,039,685 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Live Nation Entertainment by 28.3% in the first quarter. CIBC Private Wealth Group LLC now owns 1,655,096 shares of the company’s stock valued at $105,165,000 after purchasing an additional 365,288 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Live Nation Entertainment by 15.1% in the fourth quarter. Geode Capital Management LLC now owns 1,398,275 shares of the company’s stock valued at $68,818,000 after purchasing an additional 183,255 shares in the last quarter. Institutional investors and hedge funds own 70.18% of the company’s stock.

Shares of LYV opened at $71.84 on Thursday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of -798.22 and a beta of 1.11. The company’s 50 day simple moving average is $70.72 and its 200 day simple moving average is $64.40. Live Nation Entertainment, Inc. has a 1 year low of $46.02 and a 1 year high of $73.71.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.18 billion. Live Nation Entertainment had a net margin of 0.55% and a return on equity of 4.49%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities analysts expect that Live Nation Entertainment, Inc. will post 0.28 EPS for the current fiscal year.

LYV has been the topic of several recent research reports. Citigroup downgraded shares of Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price target on the stock. in a report on Friday, June 28th. Berenberg Bank initiated coverage on shares of Live Nation Entertainment in a report on Tuesday, May 14th. They issued a “buy” rating and a $73.00 price target on the stock. Atlantic Securities initiated coverage on shares of Live Nation Entertainment in a report on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 price target on the stock. ValuEngine raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, Zacks Investment Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.57.

In other Live Nation Entertainment news, EVP Michael Rowles sold 67,840 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $63.14, for a total transaction of $4,283,417.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Ted Enloe III sold 5,447 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $62.45, for a total transaction of $340,165.15. Following the transaction, the director now directly owns 67,886 shares in the company, valued at approximately $4,239,480.70. The disclosure for this sale can be found here. Corporate insiders own 4.82% of the company’s stock.

Live Nation Entertainment Profile

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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