Bessemer Group Inc. Purchases 1,365 Shares of Live Nation Entertainment, Inc. $LYV

Bessemer Group Inc. boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,232,340 shares of the company’s stock after purchasing an additional 1,365 shares during the period. Bessemer Group Inc.’s holdings in Live Nation Entertainment were worth $186,428,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LYV. GAMMA Investing LLC grew its holdings in Live Nation Entertainment by 24.5% during the 1st quarter. GAMMA Investing LLC now owns 3,914 shares of the company’s stock valued at $511,000 after purchasing an additional 771 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Live Nation Entertainment by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company’s stock valued at $487,000 after purchasing an additional 154 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Live Nation Entertainment by 32.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,655 shares of the company’s stock valued at $347,000 after purchasing an additional 645 shares during the last quarter. Spire Wealth Management grew its holdings in Live Nation Entertainment by 12.3% during the 1st quarter. Spire Wealth Management now owns 4,727 shares of the company’s stock valued at $617,000 after purchasing an additional 517 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Live Nation Entertainment by 120.9% during the 1st quarter. Golden State Wealth Management LLC now owns 709 shares of the company’s stock valued at $93,000 after purchasing an additional 388 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LYV shares. Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Citigroup dropped their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer upped their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 target price on the stock. Finally, Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their target price for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.89.

Live Nation Entertainment Price Performance

Shares of LYV opened at $152.98 on Monday. The company has a 50 day moving average price of $161.87 and a 200-day moving average price of $149.82. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The stock has a market capitalization of $35.87 billion, a PE ratio of 66.23, a PEG ratio of 13.16 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company posted $1.03 EPS. Live Nation Entertainment’s revenue for the quarter was up 16.3% on a year-over-year basis. Equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment 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.