Securian Asset Management Inc. Cuts Position in Live Nation Entertainment, Inc. $LYV

Securian Asset Management Inc. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 43.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,256 shares of the company’s stock after selling 3,233 shares during the quarter. Securian Asset Management Inc.’s holdings in Live Nation Entertainment were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. NewEdge Wealth LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter valued at $1,043,000. Sequoia Financial Advisors LLC lifted its position in Live Nation Entertainment by 64.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,802 shares of the company’s stock valued at $684,000 after purchasing an additional 1,878 shares during the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of Live Nation Entertainment by 158.7% in the 4th quarter. K.J. Harrison & Partners Inc now owns 8,150 shares of the company’s stock worth $1,161,000 after buying an additional 5,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Live Nation Entertainment by 5.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 336,674 shares of the company’s stock worth $48,922,000 after buying an additional 16,729 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Live Nation Entertainment by 2.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,012 shares of the company’s stock worth $3,849,000 after buying an additional 571 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Guggenheim increased their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th. Susquehanna upped their price objective on Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Zacks Research raised Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Rothschild & Co Redburn lifted their target price on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $187.75.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $169.97 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $175.25. The company has a market capitalization of $40.04 billion, a price-to-earnings ratio of -96.03 and a beta of 1.11. The firm’s 50-day moving average is $158.15 and its 200 day moving average is $149.08.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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 firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) EPS. Research analysts predict that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction 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 sale, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 157,798 shares of company stock valued at $26,088,615. Insiders own 2.89% of the company’s stock.

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.