Bessemer Group Inc. Buys 475,373 Shares of Live Nation Entertainment, Inc. $LYV

Bessemer Group Inc. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 25.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,319,123 shares of the company’s stock after purchasing an additional 475,373 shares during the quarter. Bessemer Group Inc.’s holdings in Live Nation Entertainment were worth $353,690,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new stake in Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $30,000. DV Equities LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. grew its position in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after acquiring an additional 107 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Up 0.8%

LYV stock opened at $179.84 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $188.00. The company has a market cap of $42.36 billion, a P/E ratio of -101.60 and a beta of 1.11. The business has a fifty day moving average of $172.07 and a 200-day moving average of $159.73.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on LYV shares. Citizens Jmp initiated coverage on Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Roth Capital restated a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.90.

Insider Activity

In related news, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by company insiders.

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.