Live Nation Entertainment, Inc. (NYSE:LYV) Holdings Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 252,264 shares of the company’s stock after acquiring an additional 28,288 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Live Nation Entertainment were worth $32,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $111,094,000. PointState Capital LP bought a new position in Live Nation Entertainment during the 3rd quarter valued at $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after buying an additional 387,008 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Live Nation Entertainment by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock valued at $234,388,000 after buying an additional 284,623 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last three months. Corporate insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LYV shares. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Roth Mkm increased their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Bank of America increased their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Price Performance

Shares of LYV opened at $125.05 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 45.97, a P/E/G ratio of 1.81 and a beta of 1.38. The business’s 50-day moving average is $138.14 and its 200-day moving average is $128.62. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Live Nation Entertainment 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.