Bessemer Group Inc. Has $353.69 Million Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• Bessemer Group Inc. increased its stake in Live Nation Entertainment by 25.8% in the first quarter, ending with 2.32 million shares valued at about $353.7 million.
• Live Nation’s latest quarterly results showed revenue of $3.79 billion, beating expectations, but EPS came in at -$1.85, missing analyst estimates by a wide margin.
• Wall Street remains broadly bullish on LYV, with 20 Buy ratings and an average price target of $190.90, even as two executives recently sold shares.

Bessemer Group Inc. lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 25.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,319,123 shares of the company's stock after acquiring an additional 475,373 shares during the period. Bessemer Group Inc. owned 0.99% of Live Nation Entertainment worth $353,690,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in shares of Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company's stock worth $2,269,000 after buying an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company's stock worth $121,000 after acquiring an additional 109 shares during the period. Cerity Partners LLC lifted its position in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company's stock worth $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company's stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Live Nation Entertainment by 344.3% during the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company's stock valued at $334,000 after acquiring an additional 1,711 shares during the period. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

LYV opened at $179.84 on Friday. The stock's 50 day simple moving average is $172.07 and its 200-day simple moving average is $159.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $42.36 billion, a PE ratio of -101.60 and a beta of 1.11. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $188.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) EPS. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LYV shares. Zacks Research upgraded Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Guggenheim raised their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wolfe Research lifted their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Morgan Stanley upped their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Twenty investment 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, the company currently has an average rating of "Moderate Buy" and an average price target of $190.90.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction dated Friday, May 8th. The stock was 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 of the company's stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.

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