Bessemer Group Inc. Acquires 759,363 Shares of Live Nation Entertainment, Inc. $LYV

Bessemer Group Inc. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,843,750 shares of the company’s stock after acquiring an additional 759,363 shares during the quarter. Bessemer Group Inc.’s holdings in Live Nation Entertainment were worth $262,733,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LYV. Empowered Funds LLC raised its stake in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after purchasing an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC raised its stake in Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after purchasing an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after purchasing an additional 1,711 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LYV. Moffett Nathanson dropped their price target on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Guggenheim boosted their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $187.75.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the 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 completion of the transaction, the executive vice president owned 204,716 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 157,798 shares of company stock valued at $26,088,615. 2.89% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Up 0.9%

LYV stock opened at $169.97 on Friday. The stock has a market capitalization of $40.04 billion, a P/E ratio of -96.03 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $175.25. The firm has a 50-day moving average price of $158.15 and a 200-day moving average price of $149.08.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted ($0.32) EPS. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal 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.