Live Nation Entertainment, Inc. $LYV Holdings Lifted by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,706 shares of the company’s stock after acquiring an additional 2,663 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Live Nation Entertainment were worth $7,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Live Nation Entertainment in the first quarter worth approximately $201,501,000. Independent Franchise Partners LLP grew its position in 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 purchasing an additional 1,004,574 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock valued at $366,195,000 after buying an additional 884,745 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter worth approximately $128,704,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Live Nation Entertainment by 83.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock valued at $207,490,000 after buying an additional 723,112 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LYV shares. Moffett Nathanson assumed coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a “buy” rating and a $195.00 price objective for the company. Oppenheimer lifted their price target on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Susquehanna increased their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Guggenheim reduced their target price on shares of Live Nation Entertainment from $182.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.35.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $140.59 on Friday. The company has a fifty day moving average price of $158.25 and a 200 day moving average price of $151.11. The stock has a market cap of $32.97 billion, a P/E ratio of 60.86, a PEG ratio of 12.85 and a beta of 1.37. 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, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 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.