Southeastern Asset Management Inc. TN Sells 869,299 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Southeastern Asset Management Inc. TN lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 98.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other hedge funds have also recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at $29,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at $40,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at $42,000. Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at $44,000. Finally, Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at $45,000. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 3.01% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Morgan Stanley raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $162.07.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $145.37 on Friday. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The firm has a market capitalization of $33.69 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 1.81 and a beta of 1.47. The business has a 50-day simple moving average of $128.88 and a 200 day simple moving average of $133.67. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion for 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 business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment 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.