Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 322,451 shares of the company’s stock after selling 2,350 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Live Nation Entertainment were worth $42,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Gilbert & Cook Inc. raised its holdings in Live Nation Entertainment by 1.4% in the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after purchasing an additional 75 shares during the period. Utah Retirement Systems raised its holdings in Live Nation Entertainment by 0.4% in the 4th quarter. Utah Retirement Systems now owns 26,195 shares of the company’s stock worth $3,392,000 after purchasing an additional 100 shares during the period. HM Payson & Co. raised its holdings in Live Nation Entertainment by 9.5% in the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company’s stock worth $150,000 after purchasing an additional 100 shares during the period. Mather Group LLC. raised its holdings in Live Nation Entertainment by 6.7% in the 1st quarter. Mather Group LLC. now owns 1,724 shares of the company’s stock worth $225,000 after purchasing an additional 108 shares during the period. Finally, BTC Capital Management Inc. raised its holdings in Live Nation Entertainment by 2.7% in the 1st quarter. BTC Capital Management Inc. now owns 4,475 shares of the company’s stock worth $584,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a “positive” rating in a report on Tuesday, June 10th. Roth Mkm reduced their price target on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein began coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price objective for the company. Rosenblatt Securities cut their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim reiterated a “buy” rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $165.82.

Insider Activity

In other news, EVP John Hopmans sold 34,808 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Price Performance

LYV stock opened at $151.40 on Tuesday. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $146.50 and a 200-day simple moving average of $139.68. The firm has a market capitalization of $35.09 billion, a PE ratio of 51.67, a price-to-earnings-growth ratio of 5.69 and a beta of 1.46. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75.

About Live Nation Entertainment

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.