Sanctuary Advisors LLC Has $2.66 Million Stake in Live Nation Entertainment, Inc. $LYV

Sanctuary Advisors LLC lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 15.2% in the first quarter, HoldingsChannel.com reports. The fund owned 17,419 shares of the company’s stock after selling 3,117 shares during the quarter. Sanctuary Advisors LLC’s holdings in Live Nation Entertainment were worth $2,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Checchi Capital Advisers LLC increased its holdings in Live Nation Entertainment by 4.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 9,570 shares of the company’s stock valued at $1,460,000 after purchasing an additional 386 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Live Nation Entertainment by 20.5% in the first quarter. Bleakley Financial Group LLC now owns 17,633 shares of the company’s stock worth $2,689,000 after purchasing an additional 3,005 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after purchasing an additional 367,624 shares during the last quarter. IFC Advisors LLC bought a new stake in shares of Live Nation Entertainment during the first quarter worth $210,000. Finally, Pittenger & Anderson Inc. increased its stake in shares of Live Nation Entertainment by 30.2% in the first quarter. Pittenger & Anderson Inc. now owns 63,407 shares of the company’s stock valued at $9,670,000 after buying an additional 14,716 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

LYV opened at $180.92 on Tuesday. The company has a fifty day moving average price of $172.77 and a two-hundred day moving average price of $160.24. The firm has a market capitalization of $42.62 billion, a PE ratio of -102.21 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $188.00. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on LYV shares. Guggenheim upped their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.25.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.