Live Nation Entertainment, Inc. (NYSE:LYV) Stake Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,067 shares of the company’s stock after buying an additional 219 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Live Nation Entertainment were worth $2,210,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the 3rd quarter valued at about $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $44,000. Independence Bank of Kentucky bought a new position in Live Nation Entertainment in the 4th quarter worth approximately $45,000. Reston Wealth Management LLC acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at approximately $41,000. Finally, Morse Asset Management Inc bought a new stake in Live Nation Entertainment during the 3rd quarter valued at $42,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.8 %

NYSE:LYV opened at $147.14 on Tuesday. The stock has a fifty day simple moving average of $136.31 and a 200 day simple moving average of $118.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $34.19 billion, a price-to-earnings ratio of 156.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $152.11.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America raised their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Evercore ISI boosted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Benchmark increased their price objective on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, December 19th. 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, November 13th. Finally, StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.

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.