Southeast Asset Advisors LLC Sells 26,949 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Southeast Asset Advisors LLC lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 37.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,054 shares of the company’s stock after selling 26,949 shares during the period. Live Nation Entertainment comprises about 0.7% of Southeast Asset Advisors LLC’s portfolio, making the stock its 18th biggest position. Southeast Asset Advisors LLC’s holdings in Live Nation Entertainment were worth $5,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Amundi increased its stake in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after buying an additional 39,302 shares during the period. Wealthfront Advisers LLC grew its holdings in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Live Nation Entertainment in the 4th quarter valued at approximately $226,000. Charles Schwab Investment Management Inc. raised its stake in shares of Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after acquiring an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $754,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling

In other news, 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 value of $9,811,334.40. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock worth $10,497,143 in the last quarter. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 4.0 %

Shares of Live Nation Entertainment stock opened at $121.00 on Monday. The stock has a market capitalization of $28.24 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The stock has a 50 day moving average price of $137.16 and a two-hundred day moving average price of $129.83. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Macquarie increased their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Roth Mkm increased their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Morgan Stanley lifted their price objective 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. Bank of America raised their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

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.