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

Sterling Capital Management LLC trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 35.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,307 shares of the company’s stock after selling 8,332 shares during the quarter. Sterling Capital Management LLC’s holdings in Live Nation Entertainment were worth $2,334,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in Live Nation Entertainment in the 4th quarter valued at $25,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth $26,000. Ameriflex Group Inc. raised its position in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment during the fourth quarter worth about $30,000. Finally, DV Equities LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at about $31,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.0%

Shares of NYSE:LYV opened at $179.44 on Monday. The firm has a market capitalization of $42.27 billion, a PE ratio of -101.38 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $180.92. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day moving average is $165.03 and its two-hundred day moving average is $155.68.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the business posted ($0.32) EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Analysts Set New Price Targets

LYV has been the topic of a number of research reports. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Morgan Stanley lifted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Citizens Jmp assumed coverage on Live Nation Entertainment in a research note on Monday, March 30th. They set a “market outperform” rating and a $190.00 price objective on the stock. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price target on Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.