Sanctuary Advisors LLC Sells 39,406 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Sanctuary Advisors LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 70.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,248 shares of the company’s stock after selling 39,406 shares during the quarter. Sanctuary Advisors LLC’s holdings in Live Nation Entertainment were worth $1,779,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new position in shares of Live Nation Entertainment during the second quarter worth approximately $748,000. Select Equity Group L.P. grew its holdings in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Live Nation Entertainment in the 2nd quarter worth $3,985,000. Czech National Bank boosted its position in Live Nation Entertainment by 17.5% during the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after buying an additional 4,761 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Live Nation Entertainment by 48.3% during the second quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after buying an additional 16,668 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LYV. TD Cowen increased their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Oppenheimer raised their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Benchmark raised their price target on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Stock Down 0.3 %

LYV stock opened at $132.19 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $141.18. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 140.63, a price-to-earnings-growth ratio of 3.65 and a beta of 1.37. The business’s 50 day moving average price is $127.65 and its two-hundred day moving average price is $107.49. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

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.