Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 361,048 shares of the company’s stock after acquiring an additional 10,551 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Live Nation Entertainment were worth $46,756,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after purchasing an additional 87,032 shares during the period. Geode Capital Management LLC increased its stake in shares of Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after acquiring an additional 385,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares during the period. Finally, ValueAct Holdings L.P. bought a new position in Live Nation Entertainment during the 3rd quarter worth about $111,094,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the subject of several research reports. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer increased their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI raised their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Trading Down 0.8 %

NYSE LYV opened at $147.14 on Tuesday. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $152.11. The company has a fifty day simple moving average of $136.31 and a two-hundred day simple moving average of $118.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $34.19 billion, a P/E ratio of 156.53, a P/E/G ratio of 1.73 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

About Live Nation Entertainment

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.