Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,219 shares of the company's stock after purchasing an additional 4,152 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Live Nation Entertainment were worth $2,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in Live Nation Entertainment in the 1st quarter worth about $1,153,000. Amundi boosted its stake in Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after purchasing an additional 39,302 shares during the period. Praxis Investment Management Inc. boosted its stake in Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after purchasing an additional 1,730 shares during the period. Wealthfront Advisers LLC boosted its stake in Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after purchasing an additional 33,980 shares during the period. Finally, Highland Capital Management LLC bought a new position in Live Nation Entertainment in the 1st quarter worth about $1,170,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 1.3%

Shares of NYSE:LYV traded down $1.90 during midday trading on Monday, reaching $147.37. The company's stock had a trading volume of 2,612,880 shares, compared to its average volume of 2,337,771. The firm has a 50 day moving average of $142.82 and a 200-day moving average of $137.18. The firm has a market capitalization of $34.16 billion, a P/E ratio of 50.30, a PEG ratio of 5.79 and a beta of 1.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. Live Nation Entertainment, Inc. has a 12-month low of $87.33 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share 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 business had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LYV shares. Benchmark reiterated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Wolfe Research lifted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Rosenblatt Securities dropped their price target on 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. Roth Mkm lowered their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.72% of the company's stock.

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.