TD Cowen Reaffirms Buy Rating for Live Nation Entertainment (NYSE:LYV)

TD Cowen reiterated their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $108.00 price objective on the stock.

A number of other brokerages have also weighed in on LYV. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Roth Capital upgraded shares of Live Nation Entertainment from a neutral rating to a buy rating in a report on Thursday, January 11th. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Rosenblatt Securities lowered their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a buy rating for the company in a report on Thursday, April 11th. Finally, Oppenheimer lifted their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $115.70.

Live Nation Entertainment Trading Down 2.4 %

Shares of Live Nation Entertainment stock opened at $89.64 on Tuesday. Live Nation Entertainment has a 1 year low of $64.96 and a 1 year high of $107.24. The firm has a market cap of $20.69 billion, a PE ratio of 67.40 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day simple moving average of $99.01 and a two-hundred day simple moving average of $91.35.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. Analysts expect that Live Nation Entertainment will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Czech National Bank grew its position in shares of Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after buying an additional 115 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Live Nation Entertainment by 0.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock worth $2,324,000 after buying an additional 117 shares during the period. Hohimer Wealth Management LLC grew its position in shares of Live Nation Entertainment by 1.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock worth $956,000 after buying an additional 123 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock worth $1,100,000 after buying an additional 130 shares during the period. Finally, Raymond James Trust N.A. grew its position in shares of Live Nation Entertainment by 4.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock worth $369,000 after buying an additional 130 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.