3,343 Live Nation Entertainment, Inc. $LYV Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,621 shares of the company’s stock after purchasing an additional 3,343 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Live Nation Entertainment were worth $5,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Cordatus Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $1,600,000. V Square Quantitative Management LLC grew its holdings in Live Nation Entertainment by 10.2% in the third quarter. V Square Quantitative Management LLC now owns 3,067 shares of the company’s stock valued at $519,000 after purchasing an additional 285 shares during the period. Assenagon Asset Management S.A. grew its holdings in Live Nation Entertainment by 253.4% in the third quarter. Assenagon Asset Management S.A. now owns 374,747 shares of the company’s stock valued at $63,445,000 after purchasing an additional 268,710 shares during the period. Ninety One UK Ltd acquired a new position in Live Nation Entertainment during the third quarter worth approximately $38,000. Finally, Contravisory Investment Management Inc. increased its position in Live Nation Entertainment by 1,468.8% during the third quarter. Contravisory Investment Management Inc. now owns 7,781 shares of the company’s stock worth $1,317,000 after purchasing an additional 7,285 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.3%

LYV opened at $174.28 on Thursday. The firm has a 50 day moving average price of $174.39 and a 200 day moving average price of $171.94. The company has a market cap of $41.07 billion, a PE ratio of -154.23 and a beta of 1.17. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly 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 firm had revenue of $7.67 billion for 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%. Live Nation Entertainment’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LYV shares. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Morgan Stanley upped their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Susquehanna cut their target price on Live Nation Entertainment from $187.00 to $183.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.95.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.