Bleakley Financial Group LLC Sells 20,714 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Bleakley Financial Group LLC lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 67.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,879 shares of the company’s stock after selling 20,714 shares during the period. Bleakley Financial Group LLC’s holdings in Live Nation Entertainment were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American International Group Inc. raised its stake in Live Nation Entertainment by 3.6% in the 4th quarter. American International Group Inc. now owns 39,330 shares of the company’s stock worth $3,681,000 after purchasing an additional 1,373 shares in the last quarter. Czech National Bank lifted its position in shares of Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after purchasing an additional 115 shares during the period. City Holding Co. lifted its position in shares of Live Nation Entertainment by 40.0% in the 1st quarter. City Holding Co. now owns 1,815 shares of the company’s stock worth $192,000 after purchasing an additional 519 shares during the period. Gateway Investment Advisers LLC lifted its position in shares of Live Nation Entertainment by 2.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 84,535 shares of the company’s stock valued at $8,941,000 after acquiring an additional 2,299 shares during the period. Finally, Procyon Advisors LLC lifted its position in shares of Live Nation Entertainment by 8.7% during the 1st quarter. Procyon Advisors LLC now owns 8,440 shares of the company’s stock valued at $893,000 after acquiring an additional 672 shares during the period. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $114.94 on Monday. The stock has a fifty day moving average of $102.67 and a 200 day moving average of $97.18. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $116.57. The firm has a market capitalization of $26.41 billion, a price-to-earnings ratio of 109.47, a PEG ratio of 2.65 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the business earned $1.02 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Wall Street Analyst Weigh In

LYV has been the topic of several research reports. Oppenheimer upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Benchmark restated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.77.

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.