Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Benchmark Analyst Says

Live Nation Entertainment (NYSE:LYV - Free Report) had its price objective hoisted by Benchmark from $132.00 to $144.00 in a report issued on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on LYV. Rosenblatt Securities reissued a "buy" rating and set a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Oppenheimer upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, September 6th. Macquarie upped their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Roth Mkm increased their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Bank of America started coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a "buy" rating and a $125.00 price objective on the stock. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $134.77.

Live Nation Entertainment Stock Up 4.3 %

LYV traded up $5.30 during midday trading on Tuesday, hitting $129.10. 5,512,989 shares of the company's stock traded hands, compared to its average volume of 2,153,848. The company has a market cap of $29.73 billion, a PE ratio of 121.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The stock's fifty day simple moving average is $110.04 and its 200-day simple moving average is $99.68. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment has a one year low of $81.38 and a one year high of $130.76.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly 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 business had revenue of $7.65 billion during the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, equities analysts anticipate that Live Nation Entertainment will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company's stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the company's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 over the last 90 days. Company insiders own 2.72% of the company's stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Janney Montgomery Scott LLC lifted its stake in Live Nation Entertainment by 442.1% during the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company's stock worth $1,331,000 after purchasing an additional 10,262 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Live Nation Entertainment by 27.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company's stock valued at $495,000 after acquiring an additional 1,002 shares during the period. Empowered Funds LLC acquired a new stake in shares of Live Nation Entertainment during the 1st quarter valued at approximately $281,000. Oppenheimer & Co. Inc. purchased a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $212,000. Finally, Headlands Technologies LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $138,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

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.