Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $138.57.

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm upped their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th.

Insider Activity at Live Nation Entertainment

In related 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 value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock worth $16,449,718 over the last three months. Company insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of LYV. Cromwell Holdings LLC raised its position in shares of Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares in the last quarter. Private Advisor Group LLC increased its holdings in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after buying an additional 95 shares during the period. Empirical Finance LLC boosted its holdings in shares of Live Nation Entertainment by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after buying an additional 105 shares in the last quarter. Finally, Mystic Asset Management Inc. increased its stake in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after acquiring an additional 110 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 2.8 %

Shares of NYSE:LYV opened at $132.60 on Tuesday. The business’s 50 day simple moving average is $113.54 and its 200 day simple moving average is $101.09. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $132.74. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $30.81 billion, a P/E ratio of 141.06, a P/E/G ratio of 3.44 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the business earned $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment will post 1.08 EPS for the current fiscal year.

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.