Sequoia Financial Advisors LLC Has $370,000 Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Sequoia Financial Advisors LLC increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,831 shares of the company’s stock after acquiring an additional 207 shares during the period. Sequoia Financial Advisors LLC’s holdings in Live Nation Entertainment were worth $370,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after purchasing an additional 75 shares during the last quarter. Utah Retirement Systems raised its position in Live Nation Entertainment by 0.4% during the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company’s stock worth $3,392,000 after acquiring an additional 100 shares in the last quarter. BTC Capital Management Inc. raised its position in Live Nation Entertainment by 2.7% during the first quarter. BTC Capital Management Inc. now owns 4,475 shares of the company’s stock worth $584,000 after acquiring an additional 117 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Live Nation Entertainment by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company’s stock worth $2,559,000 after acquiring an additional 143 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Live Nation Entertainment by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company’s stock worth $487,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $149.27 on Friday. The firm has a 50-day moving average price of $142.21 and a two-hundred day moving average price of $136.94. Live Nation Entertainment, Inc. has a 12-month low of $87.33 and a 12-month high of $157.75. The company has a market capitalization of $34.60 billion, a P/E ratio of 50.95, a P/E/G ratio of 5.78 and a beta of 1.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price target on the stock. Rosenblatt Securities dropped their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Finally, Guggenheim reissued a “buy” rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Live Nation Entertainment Profile

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.