Live Nation Entertainment, Inc. $LYV Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,084,387 shares of the company’s stock after selling 147,953 shares during the period. Bessemer Group Inc. owned approximately 0.46% of Live Nation Entertainment worth $177,189,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LYV. Clearstead Trust LLC lifted its position in Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Live Nation Entertainment during the third quarter worth approximately $33,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $34,000. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the 3rd quarter valued at $37,000. Finally, Root Financial Partners LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LYV shares. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the stock a “sell” rating in a report on Friday, January 2nd. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Morgan Stanley dropped their target price on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Guggenheim cut their target price on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $172.55.

Live Nation Entertainment Stock Up 0.7%

LYV stock opened at $142.28 on Thursday. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $142.19 and its 200-day simple moving average is $150.10. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25. The firm has a market capitalization of $33.40 billion, a PE ratio of 103.10, a P/E/G ratio of 9.33 and a beta of 1.18.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. Live Nation Entertainment’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. Equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.