Is Live Nation Entertainment, Inc. (LYV) A Good Stock To Buy?

Judging by the fact that Live Nation Entertainment, Inc. (NYSE:LYV) has experienced a declination in interest from the aggregate hedge fund industry, logic holds that there exists a select few money managers who were dropping their full holdings heading into Q4. At the top of the heap, Jeff Lignelli’s Incline Global Management dropped the largest position of the 700 funds tracked by Insider Monkey, totaling close to $11.4 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund dumped about $8.4 million worth. These bearish behaviors are interesting, as total hedge fund interest dropped by 8 funds heading into Q4.

Let’s now review hedge fund activity in other stocks similar to Live Nation Entertainment, Inc. (NYSE:LYV). These stocks are Silver Wheaton Corp. (USA) (NYSE:SLW), ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS), StanCorp Financial Group, Inc. (NYSE:SFG), and Seattle Genetics, Inc. (NASDAQ:SGEN). This group of stocks’ market values are similar to LYV’s market value.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $707 million, compared to $577 million in LYV’s case. StanCorp Financial Group, Inc. (NYSE:SFG) is the most popular stock in this table with 23 long positions, while Silver Wheaton Corp. (USA) (NYSE:SLW) is the least popular one. Compared to these stocks Live Nation Entertainment, Inc. (NYSE:LYV) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.