Sumitomo Mitsui Trust Group Inc. Has $38.38 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 350,497 shares of the company’s stock after buying an additional 6,512 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Live Nation Entertainment were worth $38,376,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LYV. Vanguard Group Inc. raised its position in Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after purchasing an additional 110,097 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares during the period. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after acquiring an additional 87,032 shares during the last quarter. Finally, D1 Capital Partners L.P. increased its position in Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV opened at $129.00 on Friday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market capitalization of $29.97 billion, a PE ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. The stock has a 50 day simple moving average of $112.78 and a 200 day simple moving average of $100.70. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $130.83.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted $1.78 earnings per share. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the topic of a number of research reports. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer upped their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Evercore ISI raised their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Benchmark upped their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has issued 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 target price of $138.57.

Insider Activity

In related news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. This trade represents a 28.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 over the last three months. Corporate 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.