Live Nation Entertainment, Inc. $LYV is MSA Advisors LLC’s 6th Largest Position

MSA Advisors LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% in the fourth quarter, Holdings Channel reports. The firm owned 147,975 shares of the company’s stock after selling 37,230 shares during the period. Live Nation Entertainment comprises approximately 5.3% of MSA Advisors LLC’s holdings, making the stock its 6th biggest position. MSA Advisors LLC’s holdings in Live Nation Entertainment were worth $21,086,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LYV. Norges Bank purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $285,924,000. Sachem Head Capital Management LP purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $173,380,000. First Trust Advisors LP grew its position in shares of Live Nation Entertainment by 653.7% during the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after acquiring an additional 1,001,905 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Live Nation Entertainment by 70.0% during 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 last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on LYV. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Roth Mkm reaffirmed a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. UBS Group lifted their price objective on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $174.14 on Wednesday. The stock has a market cap of $41.02 billion, a PE ratio of -98.39 and a beta of 1.12. The company’s fifty day moving average is $163.32 and its 200 day moving average is $153.55. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $176.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) EPS. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by insiders.

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.