Nomura Asset Management Co. Ltd. Trims Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Nomura Asset Management Co. Ltd. decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 99.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,665 shares of the company's stock after selling 6,999,477 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Live Nation Entertainment were worth $6,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi raised its holdings in Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after buying an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings 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 purchasing an additional 33,980 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $226,000. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $132,088,000 after buying an additional 48,949 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $754,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Down 6.6 %

LYV stock traded down $8.85 during trading on Thursday, hitting $125.80. 3,395,038 shares of the stock traded hands, compared to its average volume of 2,236,279. The stock has a market cap of $29.36 billion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The firm's 50 day moving average is $137.82 and its two-hundred day moving average is $129.34.

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Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted 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 firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at approximately $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 quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYV. Roth Mkm raised their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $174.00 target price on shares of Live Nation Entertainment in a research note on Tuesday. Benchmark reissued a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group increased their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and an average target price of $160.33.

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.