Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 388,566 Live Nation Entertainment, Inc. $LYV

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, Holdings Channel reports. The fund purchased 388,566 shares of the company’s stock, valued at approximately $71,150,000.

Other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC raised its stake in shares of Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after purchasing an additional 75 shares in the last quarter. Vident Advisory LLC grew its position in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after buying an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. increased its stake in Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after buying an additional 80 shares during the period. Sumitomo Life Insurance Co. increased its stake in Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after buying an additional 82 shares during the period. Finally, Root Financial Partners LLC raised its position in shares of Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after buying an additional 85 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYV. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Roth Capital set a $208.00 target price on Live Nation Entertainment in a research report on Friday, July 31st. Guggenheim increased their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $184.05 on Thursday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day moving average is $179.82 and its 200-day moving average is $165.94. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The stock has a market capitalization of $43.37 billion, a P/E ratio of -162.88 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.