Southeastern Asset Management Inc. TN Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Southeastern Asset Management Inc. TN lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 98.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,086 shares of the company’s stock after selling 869,299 shares during the period. Southeastern Asset Management Inc. TN’s holdings in Live Nation Entertainment were worth $1,824,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LYV. Independent Franchise Partners LLP lifted its stake in Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Groupama Asset Managment purchased a new position in Live Nation Entertainment in the fourth quarter valued at approximately $259,000,000. Norges Bank purchased a new position in Live Nation Entertainment in the fourth quarter valued at approximately $255,955,000. Jericho Capital Asset Management L.P. lifted its stake in Live Nation Entertainment by 32.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock valued at $415,447,000 after purchasing an additional 777,105 shares during the last quarter. Finally, Capital World Investors lifted its stake in Live Nation Entertainment by 54.2% in the fourth quarter. Capital World Investors now owns 1,707,284 shares of the company’s stock valued at $221,093,000 after purchasing an additional 599,784 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Roth Mkm dropped their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Rosenblatt Securities dropped their target price on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.07.

Live Nation Entertainment Trading Up 2.2%

Live Nation Entertainment stock opened at $145.37 on Friday. The stock has a market cap of $33.69 billion, a P/E ratio of 53.44, a PEG ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The firm’s fifty day moving average price is $128.88 and its 200-day moving average price is $133.67. 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 released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This represents a 32.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction on 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 approximately $6,470,120.80. This represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. 3.01% of the stock is currently owned by company 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.