Securian Asset Management Inc. Reduces Stake in Live Nation Entertainment, Inc. $LYV

Securian Asset Management Inc. lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 43.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,256 shares of the company’s stock after selling 3,233 shares during the quarter. Securian Asset Management Inc.’s holdings in Live Nation Entertainment were worth $606,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vident Advisory LLC grew its stake in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. boosted its holdings in shares of Live Nation Entertainment by 5.0% in the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after buying an additional 80 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the last quarter. GW&K Investment Management LLC grew its position in Live Nation Entertainment by 22.2% during the third quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock valued at $76,000 after buying an additional 85 shares during the period. Finally, Alteri Wealth LLC increased its holdings in Live Nation Entertainment by 5.1% during the third quarter. Alteri Wealth LLC now owns 1,841 shares of the company’s stock valued at $301,000 after buying an additional 89 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of several analyst reports. Moffett Nathanson dropped their price target on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Wells Fargo & Company lowered their target price on Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Roth Mkm reissued a “buy” rating and set a $190.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Citizens Jmp began coverage on Live Nation Entertainment in a research note on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price objective on the stock. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.75.

Live Nation Entertainment Trading Up 0.9%

Shares of LYV stock opened at $169.97 on Friday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day simple moving average of $158.15 and a two-hundred day simple moving average of $149.08. The firm has a market capitalization of $40.04 billion, a PE ratio of -96.03 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 157,798 shares of company stock worth $26,088,615 in the last three months. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.