Live Nation Entertainment, Inc. $LYV Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 324,961 shares of the company’s stock after selling 8,664 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Live Nation Entertainment were worth $55,016,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Burkett Financial Services LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth about $26,000. Kilter Group LLC bought a new position in Live Nation Entertainment during the 2nd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment during the 2nd quarter valued at about $27,000. Transamerica Financial Advisors LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter worth about $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Live Nation Entertainment in the 2nd quarter worth about $32,000. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on LYV. UBS Group raised their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Morgan Stanley upped their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Citigroup reaffirmed a “market outperform” rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Guggenheim raised their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $220.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, October 13th. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.95.

Live Nation Entertainment Trading Up 1.0%

LYV stock opened at $178.95 on Wednesday. The company has a market capitalization of $42.17 billion, a PE ratio of -158.36 and a beta of 1.15. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The firm’s 50-day moving average is $173.04 and its 200 day moving average is $166.86. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.