Live Nation Entertainment, Inc. (NYSE:LYV) Stake Cut by Sei Investments Co.

Sei Investments Co. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 56.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,740 shares of the company’s stock after selling 266,758 shares during the period. Sei Investments Co. owned about 0.09% of Live Nation Entertainment worth $26,514,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have recently commented on LYV shares. JPMorgan Chase & Co. upped 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 report on Friday, February 21st. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Bank of America lifted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last quarter. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Stock Up 0.1 %

LYV stock opened at $127.15 on Wednesday. The firm has a market cap of $29.68 billion, a PE ratio of 46.75, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. 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 50 day simple moving average of $138.58 and a 200 day simple moving average of $128.19.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.