Daiwa Securities Group Inc. Buys 2,597 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Daiwa Securities Group Inc. raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,419 shares of the company’s stock after purchasing an additional 2,597 shares during the period. Daiwa Securities Group Inc.’s holdings in Live Nation Entertainment were worth $2,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Managed Asset Portfolios LLC raised its position in shares of Live Nation Entertainment by 0.7% during the 3rd quarter. Managed Asset Portfolios LLC now owns 40,303 shares of the company’s stock valued at $4,413,000 after buying an additional 263 shares in the last quarter. Okabena Investment Services Inc. raised its position in shares of Live Nation Entertainment by 6.9% during the 3rd quarter. Okabena Investment Services Inc. now owns 5,549 shares of the company’s stock valued at $608,000 after buying an additional 357 shares in the last quarter. Cerity Partners LLC raised its position in shares of Live Nation Entertainment by 165.7% during the 3rd quarter. Cerity Partners LLC now owns 45,154 shares of the company’s stock valued at $4,944,000 after buying an additional 28,162 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Live Nation Entertainment by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after buying an additional 107,844 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Live Nation Entertainment by 37.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after buying an additional 385,143 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LYV shares. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Citigroup upped their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Oppenheimer increased their price objective 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. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Insider Activity

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $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 is available at the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,799 shares of company stock worth $16,449,718. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $139.73 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’s 50-day simple moving average is $118.98 and its two-hundred day simple moving average is $103.13. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $141.18. The company has a market capitalization of $32.47 billion, a P/E ratio of 148.65, a P/E/G ratio of 3.81 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

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.