Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Live Nation Entertainment by 9.9%, owning 0.12% of the company, valued at $36.19 million by the end of Q1.
• Institutional investors now hold 74.52% of Live Nation's stock, with significant increases in stakes from various hedge funds.
• Live Nation's quarterly revenue rose by 16.3% year-over-year, but earnings per share fell short of analyst estimates, reporting $0.41 against a consensus of $1.08.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 277,152 shares of the company's stock after buying an additional 24,888 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Live Nation Entertainment worth $36,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CenterBook Partners LP acquired a new stake in Live Nation Entertainment in the first quarter valued at $3,157,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Live Nation Entertainment by 5.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,078,044 shares of the company's stock valued at $140,771,000 after purchasing an additional 58,056 shares during the period. ASR Vermogensbeheer N.V. acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $759,000. Vanguard Group Inc. lifted its stake in shares of Live Nation Entertainment by 3.7% in the first quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock valued at $2,596,305,000 after purchasing an additional 713,020 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its position in shares of Live Nation Entertainment by 108.1% during the 1st quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company's stock valued at $475,000 after acquiring an additional 1,888 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LYV shares. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a report on Thursday, July 24th. Roth Mkm cut their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Benchmark lifted their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wolfe Research lifted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.94.

Insiders Place Their Bets

In related news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.01% of the company's stock.

Live Nation Entertainment Trading Up 3.4%

Shares of LYV stock opened at $153.24 on Friday. The firm has a 50-day moving average price of $147.40 and a 200 day moving average price of $140.02. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The company has a market capitalization of $35.52 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 5.06 and a beta of 1.46. Live Nation Entertainment, Inc. has a twelve month low of $90.69 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during 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 108.31%. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.

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