Mitsubishi UFJ Asset Management Co. Ltd. Acquires 28,288 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,264 shares of the company's stock after buying an additional 28,288 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.11% of Live Nation Entertainment worth $32,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $31,000. World Investment Advisors LLC bought a new stake in Live Nation Entertainment in the third quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $40,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment in the third quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $42,000. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LYV shares. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Roth Mkm lifted their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Guggenheim upped their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

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Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last 90 days. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Down 6.4 %

Shares of NYSE:LYV traded down $8.59 during midday trading on Thursday, reaching $126.06. The company's stock had a trading volume of 866,160 shares, compared to its average volume of 2,439,829. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50 day moving average of $137.82 and a 200-day moving average of $129.34. The firm has a market capitalization of $29.42 billion, a P/E ratio of 46.35, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share 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 business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current 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.