Daiwa Securities Group Inc. Acquires 2,597 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Daiwa Securities Group Inc. raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,419 shares of the company’s stock after purchasing an additional 2,597 shares during the period. Daiwa Securities Group Inc.’s holdings in Live Nation Entertainment were worth $2,126,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cromwell Holdings LLC increased its stake in shares of Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after purchasing an additional 88 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after acquiring an additional 89 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Live Nation Entertainment by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after acquiring an additional 95 shares in the last quarter. Empirical Finance LLC increased its position in shares of Live Nation Entertainment by 2.3% during the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after acquiring an additional 105 shares in the last quarter. Finally, Mystic Asset Management Inc. increased its position in shares of Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Rapino sold 98,849 shares of the company’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 $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,799 shares of company stock valued at $16,449,718. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Oppenheimer raised their price target 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. Roth Mkm raised their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Benchmark raised their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Citigroup raised their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, TD Cowen raised their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Live Nation Entertainment Trading Up 0.6 %

Shares of LYV stock opened at $139.73 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $141.18. The firm has a fifty day moving average price of $118.98 and a 200-day moving average price of $103.13. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $32.47 billion, a price-to-earnings ratio of 148.65, a PEG ratio of 3.81 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share 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.