Sei Investments Co. Sells 41,522 Shares of Live Nation Entertainment, Inc. (LYV)

Sei Investments Co. lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 399,826 shares of the company’s stock after selling 41,522 shares during the period. Sei Investments Co.’s holdings in Live Nation Entertainment were worth $13,934,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LYV. Markel Corp increased its stake in Live Nation Entertainment by 11.9% in the second quarter. Markel Corp now owns 366,700 shares of the company’s stock valued at $12,779,000 after buying an additional 39,000 shares during the last quarter. Texas Permanent School Fund increased its stake in Live Nation Entertainment by 1.9% in the second quarter. Texas Permanent School Fund now owns 97,517 shares of the company’s stock valued at $3,398,000 after buying an additional 1,778 shares during the last quarter. World Asset Management Inc increased its stake in Live Nation Entertainment by 10.3% in the second quarter. World Asset Management Inc now owns 9,751 shares of the company’s stock valued at $340,000 after buying an additional 907 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in Live Nation Entertainment during the second quarter valued at approximately $210,000. Finally, Lebenthal Lisanti Capital Growth LLC acquired a new stake in Live Nation Entertainment during the second quarter valued at approximately $999,000. 64.45% of the stock is owned by institutional investors.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 37.89 on Tuesday. The firm has a 50-day moving average of $35.59 and a 200-day moving average of $32.06. Live Nation Entertainment, Inc. has a 12 month low of $25.56 and a 12 month high of $37.91. The company’s market capitalization is $7.75 billion.

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Several research firms have recently commented on LYV. William Blair began coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They set an “outperform” rating for the company. BidaskClub raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Jefferies Group LLC boosted their target price on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, June 19th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.38.

In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total transaction of $697,200.00. Following the completion of the sale, the chief financial officer now directly owns 286,216 shares in the company, valued at approximately $9,977,489.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 6,337 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.82, for a total transaction of $226,991.34. Following the sale, the director now owns 23,450 shares of the company’s stock, valued at $839,979. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by company insiders.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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