Cresset Asset Management LLC Sells 7,217 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cresset Asset Management LLC lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 71.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,943 shares of the company's stock after selling 7,217 shares during the period. Cresset Asset Management LLC's holdings in Live Nation Entertainment were worth $381,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Amundi raised its holdings in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after purchasing an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after buying an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in Live Nation Entertainment during the fourth quarter valued at about $226,000. Aviva PLC raised its holdings in shares of Live Nation Entertainment by 1,524.1% in the 4th quarter. Aviva PLC now owns 97,057 shares of the company's stock worth $12,569,000 after purchasing an additional 91,081 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Live Nation Entertainment by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock valued at $132,088,000 after buying an additional 48,949 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at approximately $1,300,058.76. This trade represents a 32.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last quarter. Corporate insiders own 3.01% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of several research analyst reports. Benchmark reaffirmed a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Macquarie increased their target price 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. 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 note on Friday, May 2nd. Bank of America lifted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, Roth Mkm cut their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.07.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded up $0.73 during midday trading on Monday, hitting $148.41. The company had a trading volume of 1,624,214 shares, compared to its average volume of 2,242,925. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The business's 50 day simple moving average is $129.40 and its two-hundred day simple moving average is $134.11. The stock has a market cap of $34.40 billion, a PE ratio of 54.56, a P/E/G ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued 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). The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Live Nation Entertainment's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS 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.