Mitsubishi UFJ Asset Management Co. Ltd. Invests $71.15 Million in Live Nation Entertainment, Inc. $LYV

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 388,566 shares of the company’s stock, valued at approximately $71,150,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Live Nation Entertainment at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LYV. Burkett Financial Services LLC bought a new position in shares of Live Nation Entertainment during the second quarter worth about $26,000. Leonteq Securities AG bought a new stake in Live Nation Entertainment in the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. acquired a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $26,000. N.E.W. Advisory Services LLC bought a new position in Live Nation Entertainment during the 2nd quarter worth approximately $37,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $30,000. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. BTIG Research reaffirmed a “buy” rating and issued a $215.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Performance

LYV stock opened at $184.05 on Thursday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The stock has a market capitalization of $43.37 billion, a price-to-earnings ratio of -162.88 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average is $179.82 and its two-hundred day moving average is $165.94.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, research analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.