Handelsbanken Fonder AB Makes New $799,000 Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Handelsbanken Fonder AB bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,535 shares of the company’s stock, valued at approximately $799,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Live Nation Entertainment by 41.0% during the 4th quarter. Signaturefd LLC now owns 1,045 shares of the company’s stock worth $98,000 after acquiring an additional 304 shares during the period. abrdn plc boosted its position in shares of Live Nation Entertainment by 70.8% during the fourth quarter. abrdn plc now owns 64,848 shares of the company’s stock valued at $6,070,000 after purchasing an additional 26,877 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in Live Nation Entertainment by 430.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 124,837 shares of the company’s stock worth $11,685,000 after purchasing an additional 101,300 shares during the period. Fidelis Capital Partners LLC raised its holdings in Live Nation Entertainment by 21.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,038 shares of the company’s stock worth $284,000 after purchasing an additional 536 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Live Nation Entertainment during the fourth quarter valued at $8,716,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LYV shares. Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Roth Mkm reaffirmed a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Morgan Stanley boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer raised their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.30.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.85% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Up 0.8 %

LYV stock opened at $90.54 on Tuesday. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1-year low of $66.38 and a 1-year high of $107.24. The stock has a market capitalization of $20.90 billion, a P/E ratio of 68.08 and a beta of 1.30. The business has a fifty day moving average price of $98.82 and a 200-day moving average price of $91.62.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. Equities analysts forecast that Live Nation Entertainment, Inc. will post 1.62 earnings per share for the current fiscal year.

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.