Bleakley Financial Group LLC Grows Position in Live Nation Entertainment, Inc. $LYV

Bleakley Financial Group LLC grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,633 shares of the company’s stock after acquiring an additional 3,005 shares during the quarter. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $2,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in Live Nation Entertainment in the fourth quarter worth $285,924,000. Sachem Head Capital Management LP purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth about $173,380,000. Jericho Capital Asset Management L.P. increased its position in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Live Nation Entertainment by 653.7% during the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after buying an additional 1,033,289 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 10.3% in the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after buying an additional 1,001,905 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $178.48 on Thursday. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $188.00. The firm has a market capitalization of $42.04 billion, a P/E ratio of -100.84 and a beta of 1.11. 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 business has a fifty day simple moving average of $171.78 and a two-hundred day simple moving average of $159.49.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned ($0.32) EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LYV shares. Susquehanna boosted their price objective on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Rothschild & Co Redburn boosted their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Roth Capital restated a “buy” rating and set a $205.00 price target on shares of Live Nation Entertainment in a research report on Wednesday. Finally, Citizens Jmp initiated coverage on Live Nation Entertainment in a report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price objective on the stock. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.90.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by company insiders.

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.