Bleakley Financial Group LLC Purchases 3,005 Shares of Live Nation Entertainment, Inc. $LYV

Bleakley Financial Group LLC grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 20.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,633 shares of the company’s stock after acquiring an additional 3,005 shares during the period. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $2,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Leonteq Securities AG purchased a new stake in Live Nation Entertainment in the 4th quarter worth $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $26,000. Elyxium Wealth LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $30,000. DV Equities LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $31,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Live Nation Entertainment in the third quarter worth about $41,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LYV shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Rothschild & Co Redburn increased their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $190.90.

Live Nation Entertainment Trading Down 1.7%

LYV opened at $178.48 on Thursday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day moving average price is $171.78 and its 200-day moving average price is $159.49. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00. The stock has a market cap of $42.04 billion, a price-to-earnings ratio of -100.84 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) EPS. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Live Nation Entertainment Company 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.