Bessemer Group Inc. Has $262.73 Million Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Bessemer Group Inc. increased its stake in Live Nation Entertainment by 70% in the fourth quarter, ending with 1.84 million shares valued at about $262.7 million.
• Several other institutional investors also adjusted their positions, and overall institutional ownership of Live Nation remains high at 74.52%.
• Analysts remain broadly positive on LYV, with 20 Buy ratings and an average price target of $187.75, even after the company reported a quarterly EPS miss while revenue came in above expectations.

Bessemer Group Inc. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 70.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,843,750 shares of the company's stock after buying an additional 759,363 shares during the quarter. Bessemer Group Inc. owned about 0.79% of Live Nation Entertainment worth $262,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at $26,000. Ameriflex Group Inc. grew its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after buying an additional 84 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Live Nation Entertainment in the third quarter valued at $37,000. Blue Trust Inc. grew its stake in shares of Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company's stock valued at $40,000 after buying an additional 107 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Live Nation Entertainment in the third quarter valued at $41,000. 74.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LYV shares. Guggenheim raised their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wolfe Research raised their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. UBS Group raised their target price on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Bank of America raised their target price on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $187.75.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,776 shares of the business'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 completion of the sale, the executive vice president owned 204,716 shares of the company's stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 944 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares of the company's stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 157,798 shares of company stock valued at $26,088,615 over the last ninety days. 2.89% of the stock is currently owned by company insiders.

Live Nation Entertainment Trading Up 0.9%

LYV stock opened at $169.97 on Friday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $158.15 and a two-hundred day moving average price of $149.08. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $175.25. The stock has a market cap of $40.04 billion, a price-to-earnings ratio of -96.03 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm earned ($0.32) earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

About Live Nation Entertainment

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.

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.