Sei Investments Co. Has $26.51 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Sei Investments Co. decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 56.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,740 shares of the company’s stock after selling 266,758 shares during the quarter. Sei Investments Co.’s holdings in Live Nation Entertainment were worth $26,514,000 at the end of the most recent quarter.

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

Live Nation Entertainment Price Performance

NYSE:LYV opened at $127.15 on Wednesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a fifty day moving average price of $138.58 and a 200 day moving average price of $128.19. The stock has a market cap of $29.68 billion, a P/E ratio of 46.75, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating 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 analysts’ expectations of $5.67 billion. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark reissued 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 upped their price objective 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. 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 report on Thursday, February 13th. Macquarie upped their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $157.27.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Company 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.