Sumitomo Mitsui Trust Group Inc. Acquires 14,994 Shares of Live Nation Entertainment, Inc. $LYV

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 373,396 shares of the company’s stock after acquiring an additional 14,994 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Live Nation Entertainment were worth $56,487,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LYV. Nuveen LLC bought a new position in shares of Live Nation Entertainment during the first quarter valued at $201,501,000. Independent Franchise Partners LLP raised its stake in shares of Live Nation Entertainment by 21.4% during the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after acquiring an additional 1,004,574 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Live Nation Entertainment by 46.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock valued at $366,195,000 after acquiring an additional 884,745 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Live Nation Entertainment during the second quarter valued at $128,704,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Live Nation Entertainment by 83.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock valued at $207,490,000 after acquiring an additional 723,112 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.2%

Shares of NYSE LYV opened at $153.11 on Tuesday. The stock has a market capitalization of $35.90 billion, a P/E ratio of 66.28, a P/E/G ratio of 13.16 and a beta of 1.40. The company has a 50-day moving average price of $161.69 and a 200-day moving average price of $149.97. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LYV. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 target price for the company. Finally, Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.89.

Live Nation Entertainment Company 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.