Credit Suisse AG Has $15.92 Million Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Posted by on Aug 25th, 2023

Credit Suisse AG reduced its holdings in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 88.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 227,375 shares of the company’s stock after selling 1,718,814 shares during the quarter. Credit Suisse AG owned approximately 0.10% of Live Nation Entertainment worth $15,916,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LYV. Goldman Sachs Group Inc. increased its position in shares of Live Nation Entertainment by 96.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock worth $435,041,000 after buying an additional 1,819,841 shares during the period. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $115,328,000. Renaissance Technologies LLC increased its position in shares of Live Nation Entertainment by 399.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,474,552 shares of the company’s stock worth $102,835,000 after buying an additional 1,179,605 shares during the period. Bessemer Group Inc. increased its position in shares of Live Nation Entertainment by 5,567.4% during the first quarter. Bessemer Group Inc. now owns 1,006,465 shares of the company’s stock worth $70,454,000 after buying an additional 988,706 shares during the period. Finally, Anomaly Capital Management LP increased its position in shares of Live Nation Entertainment by 166.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,139,811 shares of the company’s stock worth $79,490,000 after buying an additional 711,741 shares during the period. 68.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $85.79, for a total value of $85,790.00. Following the completion of the sale, the director now directly owns 60,975 shares of the company’s stock, valued at approximately $5,231,045.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Citigroup increased their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Evercore ISI boosted their target price on Live Nation Entertainment from $90.00 to $100.00 and gave the company an “in-line” rating in a research report on Monday, July 24th. Morgan Stanley increased their price target on Live Nation Entertainment from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday, July 31st. Finally, Oppenheimer boosted their price objective on Live Nation Entertainment from $110.00 to $115.00 in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $105.69.

View Our Latest Report on Live Nation Entertainment

Live Nation Entertainment Trading Down 0.4 %

NYSE LYV opened at $83.72 on Friday. The firm has a market capitalization of $19.27 billion, a P/E ratio of 78.24 and a beta of 1.30. The business has a fifty day simple moving average of $89.98 and a 200 day simple moving average of $79.74. Live Nation Entertainment, Inc. has a 12 month low of $64.25 and a 12 month high of $101.74. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 17.65.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.45. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $4.95 billion. Live Nation Entertainment had a return on equity of 190.42% and a net margin of 2.34%. Live Nation Entertainment’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

About Live Nation Entertainment

(Free Report)

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

Featured Stories

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.