Sterling Capital Management LLC Purchases 22,415 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Sterling Capital Management LLC grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 779.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,289 shares of the company's stock after acquiring an additional 22,415 shares during the period. Sterling Capital Management LLC's holdings in Live Nation Entertainment were worth $3,275,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LYV. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter worth $38,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $40,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $42,000. Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the fourth quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $44,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYV shares. Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Roth Mkm upped their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Benchmark restated a "buy" rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and an average price target of $160.33.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Up 1.5 %

Shares of Live Nation Entertainment stock traded up $1.90 during midday trading on Friday, reaching $127.36. 2,566,577 shares of the company's stock traded hands, compared to its average volume of 2,245,343. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a market cap of $29.73 billion, a PE ratio of 46.82, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. The stock has a 50 day moving average of $132.90 and a 200-day moving average of $130.84.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

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.