Mizuho Securities USA LLC Acquires 4,706 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Mizuho Securities USA LLC lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 46.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,862 shares of the company’s stock after purchasing an additional 4,706 shares during the period. Mizuho Securities USA LLC’s holdings in Live Nation Entertainment were worth $1,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Live Nation Entertainment during the 3rd quarter worth about $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $38,000. Morse Asset Management Inc acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment in the 4th quarter valued at $44,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $127.36 on Tuesday. The stock has a 50 day simple moving average of $138.67 and a 200 day simple moving average of $127.95. The stock has a market cap of $29.73 billion, a P/E ratio of 46.83, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.67 billion. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research note on Thursday, February 20th. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, Guggenheim increased their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.27.

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.