Sumitomo Mitsui Trust Group Inc. Has $38.38 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 350,497 shares of the company’s stock after acquiring an additional 6,512 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of Live Nation Entertainment worth $38,376,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. lifted its stake 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 valued at $34,000 after purchasing an additional 202 shares during the last quarter. UMB Bank n.a. raised its holdings in Live Nation Entertainment by 67.4% during 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 in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the third quarter worth about $41,000. Family Firm Inc. bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth about $42,000. Finally, Cromwell Holdings LLC increased its holdings in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after acquiring an additional 88 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Live Nation Entertainment

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

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $129.00 on Friday. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $130.83. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The business has a fifty day simple moving average of $112.78 and a 200 day simple moving average of $100.70. The firm has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.11 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LYV shares. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. TD Cowen raised their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Macquarie raised their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment 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.