Live Nation Entertainment (NYSE:LYV) Stock Gets Price Target Boost from Oppenheimer

Live Nation Entertainment (NYSE:LYV) had its price target upped by Oppenheimer from $210.00 to $215.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer‘s price target would indicate a potential upside of 20.28% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. BTIG Research restated a “buy” rating and set a $215.00 price target on shares of Live Nation Entertainment in a research report on Monday, October 19th. Cfra downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. Benchmark raised their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings cut Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $203.14.

Live Nation Entertainment Stock Performance

LYV stock traded up $2.12 during midday trading on Tuesday, reaching $178.75. The stock had a trading volume of 707,965 shares, compared to its average volume of 2,535,487. The stock has a market cap of $42.12 billion, a PE ratio of -1,051.95 and a beta of 1.15. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day simple moving average of $172.76 and a two-hundred day simple moving average of $167.59. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $189.24.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, November 5th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. The business had revenue of $10.11 billion for the quarter, compared to the consensus estimate of $9.60 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, equities research analysts anticipate that Live Nation Entertainment will post 1.06 EPS for the current year.

Insider Buying and Selling

In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of LYV. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $1,221,398,000. Canada Pension Plan Investment Board purchased a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $859,018,000. Bessemer Group Inc. raised its position in Live Nation Entertainment by 25.8% during the 1st quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock worth $353,690,000 after buying an additional 475,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Live Nation Entertainment by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock worth $212,502,000 after purchasing an additional 143,432 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.

The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.