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

Meiji Yasuda Asset Management Co Ltd. decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,335 shares of the company’s stock after selling 270 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Live Nation Entertainment were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LYV. Amundi raised its stake in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC grew its holdings in shares of Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after buying an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Live Nation Entertainment in the 4th quarter valued at approximately $226,000. Charles Schwab Investment Management Inc. boosted its position 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 worth $132,088,000 after acquiring an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $754,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of LYV opened at $128.31 on Friday. The company’s 50-day moving average is $138.35 and its 200-day moving average is $128.18. 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 firm has a market capitalization of $29.95 billion, a PE ratio of 47.17, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.67 billion. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on LYV shares. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Roth Mkm increased their price target 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. Finally, Macquarie boosted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $157.27.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. 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.