Nomura Asset Management Co. Ltd. Has $6.30 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Nomura Asset Management Co. Ltd. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 99.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,665 shares of the company’s stock after selling 6,999,477 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Live Nation Entertainment were worth $6,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi grew its holdings in Live Nation Entertainment by 3.7% during the fourth 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. Wealthfront Advisers LLC increased its holdings in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Live Nation Entertainment in the 4th quarter valued at $226,000. Charles Schwab Investment Management Inc. lifted its holdings in Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after purchasing an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at $754,000. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Macquarie lifted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Roth Mkm upped 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. Benchmark reissued a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, Guggenheim lifted their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Up 4.5 %

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

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, sell-side analysts predict 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.