Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,640 shares of the company’s stock after purchasing an additional 20,003 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Live Nation Entertainment worth $13,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia lifted its stake in Live Nation Entertainment by 6.9% during the 3rd quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock valued at $46,566,000 after acquiring an additional 36,298 shares during the period. Bank of New Hampshire acquired a new stake in Live Nation Entertainment during the 4th quarter worth about $1,735,000. Allspring Global Investments Holdings LLC raised its stake in shares of Live Nation Entertainment by 13.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 567,995 shares of the company’s stock valued at $53,164,000 after buying an additional 66,390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Live Nation Entertainment by 77.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,198 shares of the company’s stock valued at $3,201,000 after buying an additional 14,928 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $1,151,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.2 %

LYV stock opened at $96.59 on Friday. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 91.99, a PEG ratio of 1.95 and a beta of 1.34. The firm has a 50-day moving average of $98.44 and a two-hundred day moving average of $92.83. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYVGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the firm posted ($0.25) EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Oppenheimer boosted their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Roth Mkm reissued a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 23rd. Redburn Atlantic raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $114.00 to $115.00 in a report on Thursday, May 9th. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Read Our Latest Stock Analysis on Live Nation Entertainment

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.85% of the stock is owned by company insiders.

About Live Nation Entertainment

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYVFree Report).

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.