Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,498 shares of the company’s stock after buying an additional 619 shares during the quarter. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Czech National Bank increased its holdings in shares of Live Nation Entertainment by 17.5% in the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after purchasing an additional 4,761 shares during the period. GAMMA Investing LLC lifted its stake in Live Nation Entertainment by 35.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,469 shares of the company’s stock valued at $270,000 after acquiring an additional 641 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Live Nation Entertainment by 450.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company’s stock valued at $120,000 after acquiring an additional 900 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Live Nation Entertainment by 4.0% during the third quarter. Gateway Investment Advisers LLC now owns 83,233 shares of the company’s stock worth $9,113,000 after purchasing an additional 3,182 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Live Nation Entertainment by 2.5% during the third quarter. Exchange Traded Concepts LLC now owns 7,166 shares of the company’s stock valued at $785,000 after purchasing an additional 172 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $148.38 on Friday. The business’s 50 day moving average price is $136.12 and its 200-day moving average price is $118.26. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $152.11. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $34.48 billion, a PE ratio of 157.85, a P/E/G ratio of 1.67 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Oppenheimer lifted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Bank of America boosted their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.