Corient Private Wealth LLC Lowers Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Corient Private Wealth LLC reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 27,905 shares of the company’s stock after selling 3,849 shares during the period. Corient Private Wealth LLC’s holdings in Live Nation Entertainment were worth $3,614,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after acquiring an additional 75 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Live Nation Entertainment by 19.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after acquiring an additional 80 shares in the last quarter. Western Pacific Wealth Management LP boosted its holdings in shares of Live Nation Entertainment by 10.4% in the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after acquiring an additional 82 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Live Nation Entertainment by 21.2% in the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after acquiring an additional 93 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in shares of Live Nation Entertainment by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock valued at $707,000 after acquiring an additional 93 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value 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 approximately $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last 90 days. Insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Rosenblatt Securities reissued a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $122.93 on Friday. The firm has a 50 day simple moving average of $138.74 and a 200-day simple moving average of $127.49. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $28.69 billion, a PE ratio of 45.20, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.