Sequoia Financial Advisors LLC Has $340,000 Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Sequoia Financial Advisors LLC cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,624 shares of the company’s stock after selling 258 shares during the period. Sequoia Financial Advisors LLC’s holdings in Live Nation Entertainment were worth $340,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LYV. Wealthfront Advisers LLC grew its stake in shares of Live Nation Entertainment by 595.3% in the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after buying an additional 33,980 shares in the last quarter. Independent Advisor Alliance lifted its stake in Live Nation Entertainment by 20.7% in the fourth quarter. Independent Advisor Alliance now owns 3,198 shares of the company’s stock valued at $414,000 after acquiring an additional 548 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Live Nation Entertainment by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,916 shares of the company’s stock valued at $2,709,000 after acquiring an additional 1,497 shares during the period. Amundi increased its stake in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Finally, HM Payson & Co. lifted its stake in Live Nation Entertainment by 14,900.0% in the 4th quarter. HM Payson & Co. now owns 1,050 shares of the company’s stock valued at $136,000 after purchasing an additional 1,043 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on LYV. Morgan Stanley upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased 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. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $122.51 on Thursday. The stock has a market capitalization of $28.59 billion, a PE ratio of 45.04, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $139.01 and a two-hundred day moving average price of $127.12.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

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.