Live Nation Entertainment, Inc. $LYV Stock Holdings Reduced by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,419 shares of the company’s stock after selling 3,117 shares during the period. Sanctuary Advisors LLC’s holdings in Live Nation Entertainment were worth $2,657,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. raised its holdings in Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after acquiring an additional 759,363 shares during the period. Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after acquiring an additional 20,165 shares during the period. CenterBook Partners LP grew its position in shares of Live Nation Entertainment by 780.1% in the fourth quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock valued at $3,155,000 after purchasing an additional 19,627 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Live Nation Entertainment by 14.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock worth $88,227,000 after purchasing an additional 78,171 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after purchasing an additional 123,800 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $180.92 on Tuesday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day moving average of $172.77 and a 200-day moving average of $160.24. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $188.00. The company has a market capitalization of $42.62 billion, a price-to-earnings ratio of -102.21 and a beta of 1.11.

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

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was 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 directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LYV. Zacks Research raised Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wolfe Research boosted their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Roth Capital reissued a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 15th. Finally, Citizens Jmp started coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target on the stock. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.25.

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.