Bleakley Financial Group LLC Buys Shares of 11,589 Live Nation Entertainment, Inc. $LYV

Bleakley Financial Group LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,589 shares of the company’s stock, valued at approximately $1,894,000.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC increased its position in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after buying an additional 547 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Live Nation Entertainment in the 2nd quarter worth about $217,000. Asset Management One Co. Ltd. raised its stake in Live Nation Entertainment by 3.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 67,093 shares of the company’s stock valued at $10,150,000 after acquiring an additional 2,191 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Live Nation Entertainment by 4.2% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,396 shares of the company’s stock valued at $56,487,000 after purchasing an additional 14,994 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Live Nation Entertainment by 0.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 54,181 shares of the company’s stock worth $8,197,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LYV. Bank of America upped their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday. Wolfe Research raised their price target on Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $175.00 price target on shares of Live Nation Entertainment in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday. Nineteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.75.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $158.30 on Tuesday. The stock’s 50-day simple moving average is $146.45 and its two-hundred day simple moving average is $150.33. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The firm has a market capitalization of $37.17 billion, a P/E ratio of -659.58, a P/E/G ratio of 11.85 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The business had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

About Live Nation Entertainment

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.