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

Southeast Asset Advisors LLC trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Trust LLC grew its position in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new position in Live Nation Entertainment in the third quarter valued at about $34,000. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment during the third quarter worth about $37,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 2.3%

Shares of NYSE:LYV opened at $158.39 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The stock has a market cap of $37.18 billion, a price-to-earnings ratio of 114.78, a price-to-earnings-growth ratio of 10.48 and a beta of 1.18. The firm’s 50 day moving average price is $144.25 and its 200 day moving average price is $149.92.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LYV. Morgan Stanley lowered their price objective on shares of 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. Susquehanna boosted their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Guggenheim dropped their target price on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Citigroup cut their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $172.45.

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.