Live Nation Entertainment, Inc. $LYV Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 36.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,930 shares of the company’s stock after selling 4,549 shares during the period. Sterling Capital Management LLC’s holdings in Live Nation Entertainment were worth $1,343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth about $77,000. Investment House LLC bought a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $1,687,000. Axxcess Wealth Management LLC boosted its stake 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 valued at $367,000 after purchasing an additional 565 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Live Nation Entertainment by 134.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,843 shares of the company’s stock valued at $1,328,000 after buying an additional 4,493 shares during the last quarter. Finally, Kenora Financial LLC grew its holdings in Live Nation Entertainment by 90.2% in the 3rd quarter. Kenora Financial LLC now owns 9,538 shares of the company’s stock valued at $1,615,000 after buying an additional 4,522 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $172.88 on Tuesday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $40.74 billion, a P/E ratio of -152.99 and a beta of 1.17. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The business’s fifty day moving average is $173.85 and its two-hundred day moving average is $165.98.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. The company had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Benchmark increased their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Susquehanna lowered their price objective on shares of Live Nation Entertainment from $187.00 to $183.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Citizens Jmp upped their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $220.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, October 13th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.95.

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.