Sterling Capital Management LLC Has $74.40 Million Holdings in Live Nation Entertainment, Inc. (LYV)
Sterling Capital Management LLC decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,708,454 shares of the company’s stock after selling 148,723 shares during the quarter. Sterling Capital Management LLC owned 0.83% of Live Nation Entertainment worth $74,403,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in LYV. IHT Wealth Management LLC raised its position in shares of Live Nation Entertainment by 58.5% during the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock worth $280,000 after purchasing an additional 950 shares during the period. Assetmark Inc. acquired a new stake in shares of Live Nation Entertainment during the third quarter worth about $134,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter worth about $167,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Live Nation Entertainment during the third quarter worth about $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Live Nation Entertainment by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock worth $185,000 after purchasing an additional 445 shares during the period. 68.09% of the stock is currently owned by hedge funds and other institutional investors.
Live Nation Entertainment, Inc. (NYSE:LYV) traded down $0.67 during trading hours on Wednesday, hitting $42.92. The company had a trading volume of 1,651,100 shares, compared to its average volume of 1,451,603. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $9,014.41, a P/E ratio of 2,179.50 and a beta of 1.05. Live Nation Entertainment, Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $46.99.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. research analysts anticipate that Live Nation Entertainment, Inc. will post 0.2 EPS for the current year.
A number of research firms have recently commented on LYV. Jefferies Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 12th. Macquarie reaffirmed a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, October 24th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $42.86.
In related news, CEO Michael Rapino sold 70,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00. Following the completion of the transaction, the chief executive officer now directly owns 395,277 shares in the company, valued at $17,969,292.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Rowles sold 46,511 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $43.35, for a total value of $2,016,251.85. Following the transaction, the executive vice president now owns 192,054 shares of the company’s stock, valued at $8,325,540.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,116,511 shares of company stock valued at $49,883,352. 4.77% of the stock is owned by corporate insiders.
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About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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