Avanza Fonder AB Invests $1.64 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Avanza Fonder AB acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,652 shares of the company’s stock, valued at approximately $1,638,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Procyon Advisors LLC increased its position in shares of Live Nation Entertainment by 5.4% during the 4th quarter. Procyon Advisors LLC now owns 10,049 shares of the company’s stock valued at $1,301,000 after purchasing an additional 514 shares during the last quarter. Hennessy Advisors Inc. grew its position in Live Nation Entertainment by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 97,000 shares of the company’s stock valued at $12,562,000 after acquiring an additional 6,200 shares during the last quarter. Empirical Asset Management LLC purchased a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $925,000. Ritholtz Wealth Management bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $310,000. Finally, Rockingstone Advisors LLC boosted its stake in shares of Live Nation Entertainment by 19.4% in the 4th quarter. Rockingstone Advisors LLC now owns 9,054 shares of the company’s stock valued at $1,172,000 after purchasing an additional 1,470 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $135.71 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $31.53 billion, a price-to-earnings ratio of 144.37, a PEG ratio of 1.50 and a beta of 1.38. The business’s fifty day moving average is $133.51 and its 200 day moving average is $113.44. Live Nation Entertainment, Inc. has a twelve month low of $86.67 and a twelve month high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the business earned $1.78 EPS. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. Research analysts expect that Live Nation Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Macquarie raised their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Oppenheimer upped their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Benchmark boosted their price objective on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Company Profile

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.