Newbridge Financial Services Group Inc. Purchases New Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Newbridge Financial Services Group Inc. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, Holdings Channel.com reports. The fund acquired 420 shares of the company’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also modified their holdings of LYV. ValueAct Holdings L.P. bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $111,094,000. PointState Capital LP bought a new stake in Live Nation Entertainment in the third quarter valued at about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after purchasing an additional 387,008 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after purchasing an additional 385,143 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LYV has been the subject of several analyst reports. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Benchmark lifted their target price on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $147.14 on Tuesday. The stock has a market cap of $34.19 billion, a price-to-earnings ratio of 156.53, a P/E/G ratio of 1.73 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $152.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The business’s 50-day simple moving average is $136.31 and its 200 day simple moving average is $118.99.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

Live Nation Entertainment Company Profile

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.