Meiji Yasuda Asset Management Co Ltd. Sells 270 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.5% in the 4th quarter, HoldingsChannel reports. The firm owned 3,335 shares of the company’s stock after selling 270 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Live Nation Entertainment were worth $432,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LYV. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new stake in Live Nation Entertainment during the fourth quarter worth $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $44,000. Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at $45,000. Finally, Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $42,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. Company insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LYV shares. Roth Mkm lifted their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Macquarie lifted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Two equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $128.31 on Friday. The stock’s 50 day moving average is $138.35 and its 200 day moving average is $128.18. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The firm has a market cap of $29.95 billion, a P/E ratio of 47.17, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

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, topping 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 firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.