Bleakley Financial Group LLC Grows Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Bleakley Financial Group LLC raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,498 shares of the company’s stock after acquiring an additional 619 shares during the period. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $1,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after purchasing an additional 87,032 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after buying an additional 385,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares during the last quarter. Finally, ValueAct Holdings L.P. bought a new position in Live Nation Entertainment in the 3rd quarter valued at $111,094,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LYV shares. Citigroup lifted their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America upped their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark increased their price objective on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Down 1.1 %

Shares of Live Nation Entertainment stock opened at $148.38 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $152.11. The firm’s 50 day moving average price is $136.12 and its 200-day moving average price is $118.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $34.48 billion, a P/E ratio of 157.85, a PEG ratio of 1.67 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

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.