Nomura Asset Management Co. Ltd. Sells 6,999,477 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Nomura Asset Management Co. Ltd. decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 99.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 48,665 shares of the company’s stock after selling 6,999,477 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Live Nation Entertainment were worth $6,302,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Live Nation Entertainment by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 96,824 shares of the company’s stock worth $10,601,000 after acquiring an additional 7,143 shares during the period. Townsquare Capital LLC grew its position in shares of Live Nation Entertainment by 24.9% in the third quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock valued at $477,000 after purchasing an additional 870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after purchasing an additional 387,008 shares during the period. Finally, Edgestream Partners L.P. increased its position in shares of Live Nation Entertainment by 102.1% during the third quarter. Edgestream Partners L.P. now owns 5,308 shares of the company’s stock valued at $581,000 after buying an additional 2,681 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Roth Mkm increased their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Bank of America upped their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Guggenheim upped their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Trading Up 4.5 %

LYV opened at $130.71 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $30.51 billion, a PE ratio of 48.06, a PEG ratio of 1.81 and a beta of 1.38. The business has a 50 day moving average of $138.04 and a 200-day moving average of $129.07. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.