MUFG Securities EMEA plc Increases Stake in Live Nation Entertainment, Inc. $LYV

MUFG Securities EMEA plc grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 114.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,473 shares of the company’s stock after buying an additional 3,454 shares during the quarter. MUFG Securities EMEA plc’s holdings in Live Nation Entertainment were worth $922,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC raised its holdings in Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC raised its holdings in Live Nation Entertainment by 6.0% during the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after purchasing an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Live Nation Entertainment by 15.9% during the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after purchasing an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Live Nation Entertainment by 344.3% during the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LYV. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Bank of America increased their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Roth Mkm reissued a “buy” rating and set a $190.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $187.75.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 157,798 shares of company stock worth $26,088,615. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Trading Down 1.6%

Shares of LYV opened at $167.72 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm’s 50-day moving average is $159.97 and its two-hundred day moving average is $150.84. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The firm has a market capitalization of $39.51 billion, a P/E ratio of -94.76 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts predict that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.