Sumitomo Mitsui Trust Holdings Inc. Has $32.25 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,985 shares of the company's stock after selling 36,591 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.15% of Live Nation Entertainment worth $32,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Live Nation Entertainment by 19.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company's stock worth $19,494,000 after purchasing an additional 29,669 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Live Nation Entertainment by 15.8% in the 1st quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company's stock worth $146,567,000 after buying an additional 187,839 shares during the period. Public Sector Pension Investment Board boosted its holdings in Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company's stock valued at $40,129,000 after acquiring an additional 413,545 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Live Nation Entertainment by 7.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company's stock valued at $205,144,000 after acquiring an additional 153,825 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Live Nation Entertainment during the first quarter worth about $1,454,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LYV shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Redburn Atlantic upgraded Live Nation Entertainment from a "neutral" rating to a "buy" rating and raised their target price for the company from $114.00 to $115.00 in a report on Thursday, May 9th. Finally, Macquarie restated an "outperform" rating and issued a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $118.17.

Insider Activity

In other news, CAO Brian Capo sold 5,000 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company's stock, valued at $1,190,911.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares of the company's stock, valued at $5,626,742.79. The disclosure for this sale can be found here. Company insiders own 2.85% of the company's stock.

Live Nation Entertainment Stock Performance

NYSE:LYV traded up $0.31 during trading hours on Tuesday, reaching $96.84. 1,672,924 shares of the stock were exchanged, compared to its average volume of 2,172,322. The stock has a market capitalization of $22.25 billion, a P/E ratio of 92.23, a P/E/G ratio of 2.18 and a beta of 1.34. The firm has a 50 day simple moving average of $93.39 and a 200-day simple moving average of $95.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the business earned $1.02 earnings per share. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.21 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.