Newbridge Financial Services Group Inc. Purchases New Shares 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, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 420 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth $44,000. Independence Bank of Kentucky purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at $45,000. Finally, Reston Wealth Management LLC acquired a new position in Live Nation Entertainment during the third quarter valued at $41,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Down 0.8 %

Shares of NYSE:LYV opened at $147.14 on Tuesday. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $152.11. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $34.19 billion, a P/E ratio of 156.53, a P/E/G ratio of 1.73 and a beta of 1.38. The stock’s 50-day moving average is $136.31 and its 200-day moving average is $118.99.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LYV. Evercore ISI upped their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup lifted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.40.

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.