Bradley Foster & Sargent Inc. CT Raises Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Bradley Foster & Sargent Inc. CT boosted its stake in Live Nation Entertainment by 368.1% in the first quarter, ending with 68,557 shares valued at about $10.5 million.
• Live Nation’s latest earnings showed a profit miss but a revenue beat: EPS came in at ($1.85) versus expectations of ($0.35), while revenue reached $3.79 billion, up 12.1% year over year.
• Wall Street remains mostly bullish, with several firms raising price targets and analysts assigning a Moderate Buy consensus rating; the average target price is about $195.95.

Bradley Foster & Sargent Inc. CT raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 368.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,557 shares of the company's stock after purchasing an additional 53,910 shares during the quarter. Bradley Foster & Sargent Inc. CT's holdings in Live Nation Entertainment were worth $10,456,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment in the 4th quarter worth approximately $30,000. DV Equities LLC acquired a new position in Live Nation Entertainment in the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. raised 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 buying an additional 107 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $177.29 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 firm has a market cap of $41.76 billion, a price-to-earnings ratio of -100.16 and a beta of 1.11. The company has a 50 day moving average price of $173.49 and a 200-day moving average price of $161.07. 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 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 analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

LYV has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. Guggenheim raised their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. UBS Group increased their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, Susquehanna lowered Live Nation Entertainment from a "positive" rating to a "neutral" rating and lifted their price objective for the company from $181.00 to $186.00 in a research note on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $195.95.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was 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 in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.89% of the company's stock.

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.

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.