Southeast Asset Advisors LLC Reduces Stock Position in Live Nation Entertainment, Inc. $LYV

Southeast Asset Advisors LLC decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 26.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,111 shares of the company’s stock after selling 11,943 shares during the quarter. Live Nation Entertainment makes up 0.5% of Southeast Asset Advisors LLC’s holdings, making the stock its 25th largest position. Southeast Asset Advisors LLC’s holdings in Live Nation Entertainment were worth $4,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Live Nation Entertainment by 24.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,515 shares of the company’s stock worth $459,000 after purchasing an additional 690 shares during the period. AlphaQuest LLC acquired a new position in Live Nation Entertainment in the 1st quarter worth about $147,000. Ameriprise Financial Inc. raised its holdings in Live Nation Entertainment by 317.9% in the 1st quarter. Ameriprise Financial Inc. now owns 350,294 shares of the company’s stock worth $45,728,000 after purchasing an additional 266,462 shares during the period. Norinchukin Bank The raised its holdings in Live Nation Entertainment by 14.8% in the 1st quarter. Norinchukin Bank The now owns 7,927 shares of the company’s stock worth $1,035,000 after purchasing an additional 1,023 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Live Nation Entertainment by 83.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock worth $207,490,000 after purchasing an additional 723,112 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Roth Mkm reduced their target price on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Guggenheim reaffirmed a “buy” rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price target for the company. Moffett Nathanson initiated coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price target for the company. Finally, Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a report on Thursday, July 24th. Eighteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $168.94.

Live Nation Entertainment Trading Up 1.9%

Shares of Live Nation Entertainment stock opened at $165.6330 on Friday. The firm has a market capitalization of $38.84 billion, a price-to-earnings ratio of 71.70, a PEG ratio of 10.00 and a beta of 1.46. Live Nation Entertainment, Inc. has a fifty-two week low of $92.57 and a fifty-two week high of $166.54. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day moving average of $151.31 and a 200 day moving average of $141.22.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.