Live Nation Entertainment, Inc. $LYV Shares Sold by Southeast Asset Advisors LLC

Southeast Asset Advisors LLC lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,774 shares of the company’s stock after selling 4,138 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Live Nation Entertainment were worth $4,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the last quarter. Profund Advisors LLC raised its holdings in Live Nation Entertainment by 51.1% during the third quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock worth $1,820,000 after purchasing an additional 3,767 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Live Nation Entertainment in the third quarter valued at about $1,606,000. WT Wealth Management acquired a new position in Live Nation Entertainment during the 3rd quarter worth approximately $1,753,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Live Nation Entertainment during the 2nd quarter worth approximately $22,692,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 2.3%

Shares of NYSE:LYV opened at $158.39 on Monday. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. The firm has a market cap of $37.18 billion, a PE ratio of 114.78, a price-to-earnings-growth ratio of 10.48 and a beta of 1.18. The company has a fifty day simple moving average of $144.25 and a 200 day simple moving average of $149.92.

Analyst Ratings Changes

LYV has been the topic of several recent analyst reports. Guggenheim lowered their target price on shares of Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Rothschild & Co Redburn decreased their price target on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $160.00 to $165.00 and gave the stock a “sell” rating in a report on Friday, January 2nd. Finally, Morgan Stanley decreased their target price on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.45.

Live Nation Entertainment Company Profile

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.