Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,230,975 shares of the company's stock after selling 153,173 shares during the period. Bessemer Group Inc. owned 0.53% of Live Nation Entertainment worth $160,742,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LYV. Canada Pension Plan Investment Board raised its position in Live Nation Entertainment by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock valued at $1,120,177,000 after purchasing an additional 44,703 shares during the period. Independent Franchise Partners LLP increased its position in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC raised its holdings in Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock valued at $500,107,000 after buying an additional 108,293 shares during the period. Jericho Capital Asset Management L.P. lifted its position in Live Nation Entertainment by 32.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after buying an additional 777,105 shares during the last quarter. Finally, Cantillon Capital Management LLC increased its position in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company's stock valued at $385,575,000 after acquiring an additional 15,891 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the sale, the executive vice president now directly owns 189,456 shares of the company's stock, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.01% of the company's stock.

Live Nation Entertainment Stock Up 0.7%

Shares of NYSE LYV traded up $1.04 during midday trading on Thursday, hitting $147.23. 1,493,401 shares of the company's stock were exchanged, compared to its average volume of 2,347,876. The firm's fifty day simple moving average is $139.69 and its 200-day simple moving average is $136.36. The company has a market cap of $34.12 billion, a PE ratio of 50.25, a P/E/G ratio of 5.83 and a beta of 1.44. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period last year, the business earned $0.60 earnings per share. The company's quarterly revenue was down 11.0% on a year-over-year basis. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LYV shares. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Rosenblatt Securities dropped their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Roth Mkm cut their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $165.24.

About Live Nation Entertainment

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