Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Mitsubishi UFJ Trust & Banking Corp cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,804 shares of the company’s stock after selling 2,159 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Live Nation Entertainment were worth $9,169,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Live Nation Entertainment during the third quarter worth about $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $42,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at approximately $44,000. Independence Bank of Kentucky acquired a new position in Live Nation Entertainment in the fourth quarter valued at approximately $45,000. Finally, Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LYV. Guggenheim upped their price target 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. Roth Mkm increased 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. Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Macquarie increased their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price 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. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $125.05 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The stock’s 50-day moving average is $138.14 and its two-hundred day moving average is $128.62. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping 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 analyst estimates of $5.67 billion. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is currently owned by corporate insiders.

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.