Sumitomo Mitsui DS Asset Management Company Ltd Purchases 802 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 5.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,848 shares of the company’s stock after buying an additional 802 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Live Nation Entertainment were worth $1,845,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. UMB Bank n.a. boosted its stake in Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares in the last quarter. Family Firm Inc. purchased a new stake in Live Nation Entertainment during the 2nd quarter worth approximately $42,000. American National Bank & Trust acquired a new position in Live Nation Entertainment during the 3rd quarter valued at approximately $50,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Live Nation Entertainment by 1,738.3% in the second quarter. Brown Brothers Harriman & Co. now owns 1,103 shares of the company’s stock worth $103,000 after buying an additional 1,043 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.0 %

NYSE:LYV opened at $114.96 on Tuesday. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 109.49, a PEG ratio of 2.65 and a beta of 1.35. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $116.57. The stock has a fifty day moving average price of $102.67 and a two-hundred day moving average price of $97.13. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer increased their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Macquarie lifted their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Roth Mkm boosted their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.77.

Live Nation Entertainment Company Profile

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.