MSA Advisors LLC Cuts Stake in Live Nation Entertainment, Inc. $LYV

MSA Advisors LLC lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,975 shares of the company’s stock after selling 37,230 shares during the quarter. Live Nation Entertainment comprises 5.3% of MSA Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. MSA Advisors LLC owned about 0.06% of Live Nation Entertainment worth $21,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after acquiring an additional 372,715 shares in the last quarter. Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 10.3% in the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after acquiring an additional 1,001,905 shares in the last quarter. Capital World Investors lifted its position in Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after acquiring an additional 237,342 shares in the last quarter. Geode Capital Management LLC lifted its position in Live Nation Entertainment by 0.5% in the 4th 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after acquiring an additional 123,800 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYV. Guggenheim raised their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Roth Mkm reaffirmed a “buy” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. Finally, Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Live Nation Entertainment Trading Down 1.0%

NYSE:LYV opened at $174.14 on Wednesday. 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 firm has a market cap of $41.02 billion, a price-to-earnings ratio of -98.39 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $176.00. The firm has a 50-day moving average price of $163.32 and a two-hundred day moving average price of $153.55.

Live Nation Entertainment (NYSE:LYV) last issued 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). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.