Sumitomo Mitsui Trust Group Inc. Purchases 10,551 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,048 shares of the company’s stock after purchasing an additional 10,551 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Live Nation Entertainment worth $46,756,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Live Nation Entertainment during the third quarter valued at about $31,000. World Investment Advisors LLC bought a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $38,000. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $41,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LYV. Macquarie upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Roth Mkm increased their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, December 12th. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Citigroup upped their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $147.14 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $34.19 billion, a price-to-earnings ratio of 156.53, a PEG ratio of 1.73 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $152.11. The firm’s 50-day moving average is $136.31 and its 200 day moving average is $118.99.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. Research analysts predict that Live Nation Entertainment, Inc. will post 0.99 EPS for the current year.

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.