Xact Kapitalforvaltning AB Grows Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Xact Kapitalforvaltning AB boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 56.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,700 shares of the company’s stock after acquiring an additional 11,043 shares during the period. Xact Kapitalforvaltning AB’s holdings in Live Nation Entertainment were worth $1,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new position in Live Nation Entertainment during the 4th quarter valued at approximately $35,000. Parallel Advisors LLC increased its stake in shares of Live Nation Entertainment by 81.0% in the first quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock worth $35,000 after acquiring an additional 243 shares during the period. CWM LLC increased its stake in shares of Live Nation Entertainment by 59.5% in 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. Icon Wealth Partners LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter worth $40,000. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Live Nation Entertainment by 6,602.8% in 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. 70.05% of the stock is owned by institutional investors.

In other Live Nation Entertainment news, EVP Michael Rowles sold 67,840 shares of Live Nation Entertainment stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $63.14, for a total transaction of $4,283,417.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 5,447 shares of Live Nation Entertainment stock in a transaction dated 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 $4,239,480.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,077 shares of company stock worth $5,643,290. Insiders own 4.82% of the company’s stock.

LYV has been the topic of a number of research reports. Citigroup lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and increased their price objective 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. Stephens increased their price objective on shares of Live Nation Entertainment to $70.00 and gave the stock an “overweight” rating in a research note on Friday, March 29th. ValuEngine lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Zacks Investment Research lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Berenberg Bank initiated coverage on shares of Live Nation Entertainment in a research report on Tuesday, May 14th. They set a “buy” rating and a $73.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $63.18.

LYV traded up $0.91 during midday trading on Monday, hitting $67.16. 1,109,079 shares of the company traded hands, compared to its average volume of 1,221,487. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $13.93 billion, a P/E ratio of -746.22 and a beta of 1.13. Live Nation Entertainment, Inc. has a 52-week low of $46.02 and a 52-week high of $67.48. The stock’s 50 day moving average price is $63.91.

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 Thomson Reuters’ consensus estimate of ($0.34) by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.59 billion. Live Nation Entertainment had a net margin of 0.22% and a return on equity of 1.77%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm posted ($0.24) earnings per share. Equities analysts expect that Live Nation Entertainment, Inc. will post 0.27 EPS for the current year.

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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