Westfield Capital Management Co. LP Purchases 128,864 Shares of Live Nation Entertainment, Inc. $LYV

Westfield Capital Management Co. LP grew its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 775,234 shares of the company’s stock after buying an additional 128,864 shares during the period. Westfield Capital Management Co. LP’s holdings in Live Nation Entertainment were worth $110,471,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Axxcess Wealth Management LLC boosted its stake in Live Nation Entertainment by 4.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after purchasing an additional 75 shares in the last quarter. Vident Advisory LLC boosted its stake in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. boosted its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares in the last quarter. Ameriflex Group Inc. boosted its stake in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Live Nation Entertainment by 22.2% in the 3rd quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock worth $76,000 after purchasing an additional 85 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

LYV opened at $161.25 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a market capitalization of $37.98 billion, a PE ratio of -91.10 and a beta of 1.12. The firm has a 50 day moving average of $160.77 and a two-hundred day moving average of $151.40.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the business posted ($0.32) earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

Analyst Ratings Changes

LYV has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Guggenheim lifted their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lowered their target price on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Rothschild & Co Redburn lifted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.75.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 157,798 shares of company stock valued at $26,088,615. 2.89% of the stock is owned by insiders.

About Live Nation Entertainment

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.