Bessemer Group Inc. Purchases 282,359 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Bessemer Group Inc. boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 28.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,288,824 shares of the company’s stock after acquiring an additional 282,359 shares during the quarter. Bessemer Group Inc. owned 0.56% of Live Nation Entertainment worth $117,425,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Providence Capital Advisors LLC lifted its position in Live Nation Entertainment by 6,674.2% during the first quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company’s stock valued at $30,000 after purchasing an additional 2,069 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Live Nation Entertainment by 773.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 463 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Live Nation Entertainment by 67.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. PSI Advisors LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth $38,000. Finally, KB Financial Partners LLC bought a new stake in shares of Live Nation Entertainment in the first quarter worth $41,000. 70.95% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $89.82 on Tuesday. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 61.52 and a beta of 1.31. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 7.57. The stock’s 50-day simple moving average is $83.61 and its 200-day simple moving average is $85.51. Live Nation Entertainment, Inc. has a 52 week low of $64.25 and a 52 week high of $101.74.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com started coverage on Live Nation Entertainment in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup boosted their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Roth Mkm decreased their price target on shares of Live Nation Entertainment from $102.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. Oppenheimer reissued an “outperform” rating and set a $115.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, September 28th. Finally, Morgan Stanley raised their target price on Live Nation Entertainment from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday, July 31st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.17.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.