Bleakley Financial Group LLC Has $2.08 Million Holdings in Live Nation Entertainment, Inc. $LYV

Bleakley Financial Group LLC increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 26.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,628 shares of the company’s stock after buying an additional 3,039 shares during the quarter. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $2,084,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Live Nation Entertainment by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after buying an additional 372,715 shares during the period. Principal Financial Group Inc. raised its stake in shares of 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 valued at $1,528,700,000 after purchasing an additional 1,001,905 shares during the period. Capital World Investors raised its stake in shares of Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after purchasing an additional 237,342 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after purchasing an additional 123,800 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was 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 owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 157,798 shares of company stock worth $26,088,615. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $167.05 on Friday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day simple moving average is $159.41 and its 200 day simple moving average is $150.46. The company has a market cap of $39.35 billion, a P/E ratio of -94.38 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its 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). The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) EPS. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Guggenheim lifted their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their price target on Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. UBS Group lifted their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $185.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, Evercore reaffirmed an “outperform” rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.75.

Live Nation Entertainment Company 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.