Mizuho Securities USA LLC Acquires 4,706 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Mizuho Securities USA LLC grew its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 46.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,862 shares of the company's stock after acquiring an additional 4,706 shares during the period. Mizuho Securities USA LLC's holdings in Live Nation Entertainment were worth $1,925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment during the third quarter worth about $31,000. World Investment Advisors LLC bought a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Morse Asset Management Inc acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $42,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth $44,000. Institutional investors own 74.52% of the company's stock.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value 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 approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The stock was 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 directly owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock worth $10,497,143 in the last quarter. Insiders own 2.72% of the company's stock.

Remove Ads

Live Nation Entertainment Stock Down 2.4 %

Live Nation Entertainment stock traded down $3.03 during mid-day trading on Friday, reaching $125.05. The stock had a trading volume of 1,731,244 shares, compared to its average volume of 2,200,611. The firm has a market capitalization of $29.19 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The stock's 50-day simple moving average is $138.35 and its 200-day simple moving average is $128.18. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 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 business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on LYV shares. 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 report on Monday, February 24th. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Benchmark restated a "buy" rating and set a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, Roth Mkm lifted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.27.

About Live Nation Entertainment

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.