Sumitomo Mitsui Trust Holdings Inc. Sells 3,067 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380,576 shares of the company’s stock after selling 3,067 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.16% of Live Nation Entertainment worth $40,254,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Czech National Bank boosted its holdings in Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after purchasing an additional 115 shares during the period. Hohimer Wealth Management LLC raised its position in shares of Live Nation Entertainment by 1.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock valued at $956,000 after buying an additional 123 shares in the last quarter. Western Pacific Wealth Management LP raised its position in shares of Live Nation Entertainment by 15.8% in the 4th quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock valued at $92,000 after buying an additional 134 shares in the last quarter. Spire Wealth Management raised its position in shares of Live Nation Entertainment by 5.4% in the 4th quarter. Spire Wealth Management now owns 2,833 shares of the company’s stock valued at $258,000 after buying an additional 145 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Live Nation Entertainment by 5.9% in the 4th quarter. Raymond James Trust N.A. now owns 2,628 shares of the company’s stock valued at $246,000 after buying an additional 147 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Oppenheimer restated an “outperform” rating and set a $110.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.58.

Read Our Latest Stock Analysis on LYV

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $95.34 on Monday. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The stock has a market cap of $21.90 billion, a PE ratio of 90.80, a price-to-earnings-growth ratio of 1.95 and a beta of 1.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The company’s fifty day moving average price is $93.61 and its 200-day moving average price is $94.49.

Live Nation Entertainment (NYSE:LYVGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm posted ($0.25) EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.38 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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