Live Nation Entertainment (NYSE:LYV) Price Target Raised to $146.00

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Guggenheim from $130.00 to $146.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on LYV. Macquarie boosted their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen upped their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America started coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Oppenheimer increased their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $137.43.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $129.21 on Tuesday. The business’s 50 day moving average is $112.06 and its two-hundred day moving average is $100.35. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $30.02 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.76.

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. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Research analysts expect that Live Nation Entertainment will post 1.11 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This represents a 28.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,500 shares of company stock worth $17,097,016. 2.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of the stock. Select Equity Group L.P. increased its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC increased its holdings in shares of Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after purchasing an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 85.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after purchasing an additional 476,981 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Live Nation Entertainment by 55.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after buying an additional 387,008 shares in the last quarter. 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.