Bleakley Financial Group LLC Acquires 3,039 Shares of Live Nation Entertainment, Inc. $LYV

by · The Cerbat Gem

Bleakley Financial Group LLC raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 26.2% in the fourth quarter, HoldingsChannel reports. The fund owned 14,628 shares of the company’s stock after acquiring an additional 3,039 shares during the period. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Allstate Corp boosted its holdings in shares of Live Nation Entertainment by 102.1% during the fourth quarter. Allstate Corp now owns 12,872 shares of the company’s stock worth $1,834,000 after acquiring an additional 6,503 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Live Nation Entertainment by 11.2% during the fourth quarter. Fisher Asset Management LLC now owns 2,048 shares of the company’s stock worth $292,000 after acquiring an additional 207 shares during the period. Clearstead Advisors LLC raised its position in shares of Live Nation Entertainment by 0.9% in the fourth quarter. Clearstead Advisors LLC now owns 126,511 shares of the company’s stock valued at $18,028,000 after buying an additional 1,143 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Live Nation Entertainment by 11.1% in the fourth quarter. Hantz Financial Services Inc. now owns 2,856 shares of the company’s stock valued at $407,000 after buying an additional 286 shares in the last quarter. Finally, North Star Asset Management Inc. raised its position in shares of Live Nation Entertainment by 5.1% in the fourth quarter. North Star Asset Management Inc. now owns 85,552 shares of the company’s stock valued at $12,191,000 after buying an additional 4,186 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.3%

Shares of NYSE:LYV opened at $167.05 on Friday. The company has a fifty day moving average of $159.41 and a 200-day moving average of $150.46. The company has a market capitalization of $39.35 billion, a PE ratio of -94.38 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. 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 – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) earnings per share. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 157,798 shares of company stock worth $26,088,615. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. UBS Group boosted their price objective on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Roth Mkm restated a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $187.75.

Get Our Latest Stock Report on LYV

Live Nation Entertainment Company Profile

(Free Report)

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.

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