Daiwa Securities Group Inc. holds a $1.81 million stake in Live Nation Entertainment, Inc. (NYSE: LYV)

Daiwa Securities Group Inc. increased its position in Live Nation Entertainment, Inc. (NYSE: LYV – Get Rating) by 21.8% during the 1st quarter, according to its latest Form 13F filed with the Securities and Exchange Commission. The fund held 15,418 shares of the company after buying an additional 2,758 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Live Nation Entertainment were worth $1,814,000 when it last filed with the SEC.

Several other institutional investors and hedge funds have also recently changed their positions in the company. Select Equity Group LP increased its position in Live Nation Entertainment shares by 132.6% in the fourth quarter. Select Equity Group LP now owns 6,224,219 shares of the company valued at $744,977,000 after purchasing an additional 3,547,743 shares in the last quarter. Victory Capital Management Inc. increased its position in Live Nation Entertainment shares by 208.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,643,888 shares of the company valued at $316,447,000 after purchasing an additional 1,785,500 shares in the last quarter. Geode Capital Management LLC increased its position in Live Nation Entertainment shares by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,436,776 shares of the company valued at $290,813,000 after purchasing an additional 121,972 shares in the last quarter. Legal & General Group Plc increased its position in Live Nation Entertainment shares by 1.1% in the fourth quarter. Legal & General Group Plc now owns 846,539 shares in the company valued at $101,322,000 after buying an additional 9,055 shares in the last quarter. Finally, Scout Investments Inc. increased its position in Live Nation Entertainment shares by 145.5% in the first quarter. Scout Investments Inc. now owns 836,671 shares of the company valued at $98,426,000 after purchasing an additional 495,802 shares in the last quarter. Institutional investors and hedge funds hold 73.10% of the company’s shares.

A Wall Street analyst gives his opinion

Several equity research analysts have recently released reports on the company. Rosenblatt Securities assumed coverage for Live Nation Entertainment in a research note on Monday, April 25. They issued a “buy” rating and a price target of $138.00 for the company. William Blair reiterated an “outperforming” rating on Live Nation Entertainment shares in a Friday, April 8 research note. Citigroup reduced its price target on Live Nation Entertainment from $96.00 to $93.00 and set a “neutral” rating for the company in a Thursday, July 7 research note. StockNews.com assumed coverage from Live Nation Entertainment in a research note on Thursday, March 31. They issued a “holding” rating for the company. Finally, Wolfe Research reduced its price target on Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating for the company in a Thursday, June 2 research note. Three analysts gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.90.

Insider Trading at Live Nation Entertainment

In other news, CEO Michael Rapino sold 78,000 shares of the company in a trade on Wednesday, April 27. The shares were sold at an average price of $106.73, for a total transaction of $8,324,940.00. Following completion of the transaction, the CEO now directly owns 3,226,520 shares of the company, valued at $344,366,479.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. In the past ninety days, insiders have sold 312,000 shares of the company worth $31,426,200. Company insiders own 4.01% of the company’s shares.

Live Nation Entertainment Awards Performance

NYSE LYV opened at $91.56 on Friday. The company has a fifty-day moving average price of $87.89 and a two-hundred-day moving average price of $103.04. The stock has a market capitalization of $20.88 billion, a PE ratio of -44.45 and a beta of 1.31. Live Nation Entertainment, Inc. has a fifty-two week minimum of $76.31 and a fifty-two week maximum of $127.75.

Live Nation Entertainment (NYSE:LYV – Get Rating) last announced its quarterly results on Thursday, May 5. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.59. The company posted revenue of $1.80 billion for the quarter, compared to analysts’ estimates of $1.88 billion. The company’s quarterly revenue increased 520.4% year over year. In the same quarter last year, the company posted ($1.44) earnings per share. As a group, sell-side analysts expect Live Nation Entertainment, Inc. to post earnings per share of 0.49 for the current year.

Live Nation Entertainment Profile

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Live Nation Entertainment, Inc operates as a live entertainment company. It operates through the Concerts, Box Office and Sponsorship and Advertising segments. The Concerts segment promotes live music events at its owned or operated venues and leased third-party venues; operates and manages concert halls; produces music festivals; creates related content; and provides management and other services to artists.

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