Southeast Asset Advisors LLC Cuts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Southeast Asset Advisors LLC lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 37.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 45,054 shares of the company’s stock after selling 26,949 shares during the quarter. Live Nation Entertainment makes up about 0.7% of Southeast Asset Advisors LLC’s portfolio, making the stock its 18th largest position. Southeast Asset Advisors LLC’s holdings in Live Nation Entertainment were worth $5,834,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment purchased a new position in Live Nation Entertainment in the fourth quarter valued at approximately $259,000,000. Norges Bank purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $255,955,000. ValueAct Holdings L.P. bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth $111,094,000. Massachusetts Financial Services Co. MA increased its holdings in Live Nation Entertainment by 34.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company’s stock worth $248,592,000 after acquiring an additional 496,202 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Live Nation Entertainment by 19.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after acquiring an additional 445,704 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 4.0 %

LYV opened at $121.00 on Monday. The business’s fifty day simple moving average is $137.16 and its 200 day simple moving average is $129.83. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $28.24 billion, a PE ratio of 44.48, a P/E/G ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping 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 business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Macquarie raised their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley raised their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $160.33.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 in the last ninety days. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Profile

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.