Zurcher Kantonalbank Zurich Cantonalbank Has $1.05 Million Stake in Live Nation (LYV)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Live Nation (NYSE:LYV) by 58.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,880 shares of the company’s stock after selling 35,256 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Live Nation were worth $1,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of LYV. Nisa Investment Advisors LLC raised its stake in shares of Live Nation by 125.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,297 shares of the company’s stock worth $1,162,000 after purchasing an additional 15,197 shares during the last quarter. Gulf International Bank UK Ltd purchased a new stake in shares of Live Nation in the fourth quarter worth approximately $2,071,000. Westpac Banking Corp purchased a new stake in shares of Live Nation in the fourth quarter worth approximately $349,000. Acadian Asset Management LLC raised its stake in shares of Live Nation by 5.1% in the fourth quarter. Acadian Asset Management LLC now owns 2,364,397 shares of the company’s stock worth $100,651,000 after purchasing an additional 114,171 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Live Nation in the fourth quarter worth approximately $417,000. 69.42% of the stock is owned by hedge funds and other institutional investors.

Shares of LYV opened at $44.43 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $9.16 billion, a P/E ratio of -92.56 and a beta of 0.98. Live Nation has a 12 month low of $43.25 and a 12 month high of $44.25.

Live Nation (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 3rd. The company reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.05. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Live Nation had a negative return on equity of 1.76% and a negative net margin of 0.25%. Live Nation’s revenue was up 19.2% on a year-over-year basis. During the same period last year, the business posted ($0.22) earnings per share. equities research analysts predict that Live Nation will post 0.14 EPS for the current year.

LYV has been the subject of several analyst reports. Zacks Investment Research downgraded Live Nation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 21st. Macquarie reissued a “buy” rating and issued a $55.00 price objective on shares of Live Nation in a research note on Thursday, March 1st. Citigroup raised Live Nation from a “neutral” rating to a “buy” rating in a research note on Monday, April 9th. JPMorgan Chase set a $51.00 price objective on Live Nation and gave the stock a “buy” rating in a research note on Thursday, April 5th. Finally, ValuEngine raised Live Nation from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $49.14.

Live Nation 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 and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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

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