Bleakley Financial Group LLC Makes New Investment in Live Nation Entertainment, Inc. $LYV

Bleakley Financial Group LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,589 shares of the company’s stock, valued at approximately $1,894,000.

A number of other hedge funds also recently bought and sold shares of LYV. Syon Capital LLC bought a new position in Live Nation Entertainment during the third quarter valued at approximately $272,000. Axxcess Wealth Management LLC grew its holdings in shares of Live Nation Entertainment by 12.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,527 shares of the company’s stock valued at $250,000 after purchasing an additional 165 shares during the last quarter. NEOS Investment Management LLC raised its position in Live Nation Entertainment by 52.4% in the 3rd quarter. NEOS Investment Management LLC now owns 13,714 shares of the company’s stock worth $2,241,000 after purchasing an additional 4,717 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Live Nation Entertainment by 2.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 34,525 shares of the company’s stock worth $5,641,000 after purchasing an additional 801 shares during the last quarter. Finally, Zions Bancorporation National Association UT grew its stake in shares of Live Nation Entertainment by 237.2% during the third quarter. Zions Bancorporation National Association UT now owns 725 shares of the company’s stock valued at $118,000 after buying an additional 510 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 2.7%

Shares of NYSE LYV opened at $158.30 on Tuesday. The firm has a fifty day simple moving average of $146.45 and a two-hundred day simple moving average of $150.33. The firm has a market capitalization of $37.17 billion, a PE ratio of -659.58, a price-to-earnings-growth ratio of 11.85 and a beta of 1.18. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. Equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

LYV has been the topic of several analyst reports. Bank of America lifted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price objective on shares of Live Nation Entertainment in a research report on Friday. Roth Mkm restated a “buy” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a report on Friday. Moffett Nathanson lowered their price target on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, Rothschild & Co Redburn cut their price target on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Nineteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.75.

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.