Bank of America Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price target increased by Bank of America from $125.00 to $149.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Guggenheim raised their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Benchmark raised their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Macquarie raised their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer raised their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $129.00 on Thursday. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.83. The company’s fifty day moving average is $112.78 and its 200-day moving average is $100.78. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market cap of $29.97 billion, a price-to-earnings ratio of 137.23, a price-to-earnings-growth ratio of 3.49 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the business posted $1.78 EPS. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment will post 1.08 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 170,500 shares of company stock valued at $16,613,966. Company insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. UMB Bank n.a. lifted its holdings in Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the last quarter. Reston Wealth Management LLC bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $41,000. Finally, Family Firm Inc. bought a new position in Live Nation Entertainment during the 2nd quarter valued at about $42,000. 74.52% of the stock is owned by institutional investors.

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.