Live Nation Entertainment, Inc. (NYSE:LYV) Receives $120.77 Average PT from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $120.77.

LYV has been the topic of a number of recent analyst reports. Bank of America assumed coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Roth Mkm raised their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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. Finally, JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $114.94 on Friday. Live Nation Entertainment has a one year low of $76.48 and a one year high of $116.57. The business has a fifty day moving average price of $102.67 and a 200-day moving average price of $97.18. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $26.41 billion, a P/E ratio of 109.47, a PEG ratio of 2.65 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last posted 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 company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the business earned $1.02 earnings per share. Live Nation Entertainment’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock valued at $19,494,000 after acquiring an additional 29,669 shares in the last quarter. Nordea Investment Management AB lifted its position in Live Nation Entertainment by 15.8% in the 1st quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after acquiring an additional 187,839 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Live Nation Entertainment in the 1st quarter valued at approximately $1,454,000. Frank Rimerman Advisors LLC bought a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $748,000. Finally, Guidance Capital Inc. bought a new position in Live Nation Entertainment in the 1st quarter valued at approximately $910,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.