Live Nation Entertainment (NYSE:LYV) Hits New 1-Year High – Should You Buy?

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $176.00 and last traded at $174.8350, with a volume of 272460 shares. The stock had previously closed at $172.51.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYV. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. Bank of America raised their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Susquehanna raised their price target on Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Rothschild & Co Redburn lifted their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Evercore reiterated an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Live Nation Entertainment Trading Down 1.5%

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a 50-day simple moving average of $163.32 and a two-hundred day simple moving average of $153.55. The firm has a market capitalization of $40.37 billion, a P/E ratio of -96.84 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Insider Activity

In other news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LYV. Empowered Funds LLC raised its position in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after acquiring an additional 109 shares in the last quarter. Cerity Partners LLC raised its position in shares of Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after acquiring an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after acquiring an additional 1,711 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

About Live Nation Entertainment

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.