Mizuho Markets Americas LLC Has $3 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Mizuho Markets Americas LLC significantly reduced its stake in Live Nation Entertainment by 82%, owning 22,968 shares worth approximately $3 million after selling 104,943 shares in the 1st quarter.
• Live Nation's quarterly earnings report revealed $7.01 billion in revenue, surpassing expectations, but earnings per share fell short at $0.41 compared to the estimated $1.08.
• Analysts are optimistic about Live Nation's future, with 17 buy ratings and a consensus price target of $165.94 following several target price increases from different firms.

Mizuho Markets Americas LLC lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 82.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,968 shares of the company's stock after selling 104,943 shares during the quarter. Mizuho Markets Americas LLC's holdings in Live Nation Entertainment were worth $2,999,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Live Nation Entertainment by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after acquiring an additional 713,020 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Live Nation Entertainment by 0.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock worth $1,120,177,000 after acquiring an additional 44,703 shares during the last quarter. Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock valued at $991,952,000 after purchasing an additional 294,310 shares during the period. Independent Franchise Partners LLP lifted its position in Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after purchasing an additional 3,168,210 shares during the period. Finally, Jericho Capital Asset Management L.P. lifted its position in 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 during the period. Institutional investors own 74.52% of the company's stock.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction on Friday, May 16th. The shares were 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 of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Up 0.3%

Shares of LYV traded up $0.52 during mid-day trading on Wednesday, hitting $158.95. 1,767,573 shares of the company's stock were exchanged, compared to its average volume of 2,503,433. The company has a market cap of $37.27 billion, a PE ratio of 68.81, a P/E/G ratio of 6.97 and a beta of 1.46. Live Nation Entertainment, Inc. has a 52 week low of $91.58 and a 52 week high of $159.97. The company has a 50-day simple moving average of $148.16 and a 200 day simple moving average of $140.25. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Live Nation Entertainment's revenue was up 16.3% compared to the same quarter last year. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price on the stock. Benchmark increased their price target on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th. 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. Wolfe Research increased their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, Oppenheimer increased their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.41.

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.