Mizuho Securities USA LLC Sells 2,306 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Live Nation Entertainment by 15.5%, selling 2,306 shares, leaving it with a total of 12,556 shares valued at approximately $1.64 million.
• Live Nation reported mixed quarterly earnings, with $0.41 EPS that missed expectations of $1.08 but posted revenue of $7.01 billion, exceeding estimates of $6.93 billion.
• Analysts have maintained a consensus rating of "Moderate Buy" for Live Nation stocks, with an average price target of $165.94.

Mizuho Securities USA LLC cut its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,556 shares of the company's stock after selling 2,306 shares during the quarter. Mizuho Securities USA LLC's holdings in Live Nation Entertainment were worth $1,640,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Berger Financial Group Inc bought a new position in Live Nation Entertainment in the first quarter valued at about $5,059,000. Townsquare Capital LLC raised its position in Live Nation Entertainment by 3.5% in the first quarter. Townsquare Capital LLC now owns 4,790 shares of the company's stock valued at $625,000 after purchasing an additional 160 shares during the last quarter. National Bank of Canada FI raised its position in Live Nation Entertainment by 3.8% in the first quarter. National Bank of Canada FI now owns 77,664 shares of the company's stock valued at $10,141,000 after purchasing an additional 2,842 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Live Nation Entertainment by 9.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,152 shares of the company's stock valued at $36,191,000 after purchasing an additional 24,888 shares during the last quarter. Finally, CenterBook Partners LP bought a new position in Live Nation Entertainment in the first quarter valued at about $3,157,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.9%

Shares of LYV stock opened at $154.48 on Tuesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a fifty-two week low of $91.25 and a fifty-two week high of $157.75. The stock has a 50 day simple moving average of $147.72 and a two-hundred day simple moving average of $140.12. The company has a market cap of $36.22 billion, a P/E ratio of 66.87, a PEG ratio of 5.06 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the business posted $1.03 EPS. The company's revenue was up 16.3% on a year-over-year basis. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the firm'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 completion of the sale, the executive vice president 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Guggenheim reiterated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Roth Mkm reduced their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities decreased their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein began 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 for the company. Finally, Wolfe Research increased their target price 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. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.94.

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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