Asset Management One Co. Ltd. Has $8.48 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Asset Management One Co. Ltd. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,902 shares of the company's stock after acquiring an additional 3,963 shares during the period. Asset Management One Co. Ltd.'s holdings in Live Nation Entertainment were worth $8,475,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment acquired a new stake in Live Nation Entertainment during the 4th quarter worth $259,000,000. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $255,955,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after purchasing an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $88,394,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president now owns 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.01% of the company's stock.

Live Nation Entertainment Stock Performance

LYV opened at $149.97 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $87.33 and a 52-week high of $157.75. The firm has a market capitalization of $34.76 billion, a PE ratio of 51.18, a PEG ratio of 5.87 and a beta of 1.44. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The business's 50-day simple moving average is $140.54 and its 200 day simple moving average is $136.56.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The company's revenue for the quarter was down 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Roth Mkm cut their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Rosenblatt Securities cut their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Benchmark restated a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $165.24.

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.

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