Live Nation Entertainment, Inc. $LYV Stock: Sterling Capital Management LLC Lowers Stake

Sterling Capital Management LLC lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 36.5% during the third quarter, HoldingsChannel reports. The firm owned 7,930 shares of the company’s stock after selling 4,549 shares during the quarter. Sterling Capital Management LLC’s holdings in Live Nation Entertainment were worth $1,343,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LYV. Root Financial Partners LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $77,000. Investment House LLC bought a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $1,687,000. Axxcess Wealth Management LLC raised its holdings in Live Nation Entertainment by 35.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 2,165 shares of the company’s stock worth $367,000 after buying an additional 565 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Live Nation Entertainment by 134.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,843 shares of the company’s stock worth $1,328,000 after buying an additional 4,493 shares during the period. Finally, Kenora Financial LLC raised its holdings in Live Nation Entertainment by 90.2% during the 3rd quarter. Kenora Financial LLC now owns 9,538 shares of the company’s stock worth $1,615,000 after buying an additional 4,522 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LYV shares. Sanford C. Bernstein reissued an “outperform” rating and set a $220.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, October 13th. Weiss Ratings lowered shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a report on Tuesday, July 28th. Wells Fargo & Company increased their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Roth Capital set a $208.00 price target on Live Nation Entertainment in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.95.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Down 0.3%

Shares of LYV stock opened at $172.88 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The firm’s fifty day moving average price is $173.85 and its two-hundred day moving average price is $165.98. The firm has a market capitalization of $40.74 billion, a P/E ratio of -152.99 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.06 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.