Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 350,497 shares of the company's stock after purchasing an additional 6,512 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.15% of Live Nation Entertainment worth $38,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LYV. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. UMB Bank n.a. lifted its holdings in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $41,000 after buying an additional 176 shares during the period. Reston Wealth Management LLC bought a new stake in Live Nation Entertainment during the third quarter valued at $41,000. Family Firm Inc. acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $42,000. Finally, Cromwell Holdings LLC raised its position in shares of Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock worth $47,000 after acquiring an additional 88 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYV has been the topic of several research analyst reports. Macquarie upped their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company an "outperform" rating in a research report on Friday. Benchmark raised their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Evercore ISI lifted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.57.

Live Nation Entertainment Stock Down 0.1 %

Shares of Live Nation Entertainment stock traded down $0.19 on Friday, hitting $129.00. The company had a trading volume of 3,405,591 shares, compared to its average volume of 2,688,977. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $130.83. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a 50 day moving average of $112.78 and a 200-day moving average of $100.78. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a P/E/G ratio of 3.49 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.08 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the company's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 17.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares of the company's stock, valued at approximately $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock valued at $17,097,016 over the last ninety days. Corporate insiders own 2.72% of the company's stock.

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.