Mitsubishi UFJ Trust & Banking Corp Has $9.17 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,804 shares of the company's stock after selling 2,159 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Live Nation Entertainment were worth $9,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi grew its stake in Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after buying an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC grew its position in shares of Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $226,000. Charles Schwab Investment Management Inc. raised its position in Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock valued at $132,088,000 after purchasing an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Live Nation Entertainment during the 4th quarter worth $754,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Remove Ads

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on LYV. Guggenheim upped their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Rosenblatt Securities reiterated a "buy" rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday. Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Live Nation Entertainment Trading Down 6.3 %

Shares of NYSE LYV traded down $8.44 during mid-day trading on Thursday, hitting $126.21. 720,042 shares of the company traded hands, compared to its average volume of 2,226,091. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a market capitalization of $29.46 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 1.81 and a beta of 1.38. The business has a 50 day moving average of $137.82 and a two-hundred day moving average of $129.34.

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 (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.