Live Nation Entertainment's (LYV) Buy Rating Reaffirmed at Benchmark

Live Nation Entertainment (NYSE:LYV - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Benchmark in a research report issued on Tuesday,Benzinga reports. They currently have a $178.00 price objective on the stock. Benchmark's target price would suggest a potential upside of 47.11% from the stock's previous close.

A number of other research firms have also weighed in on LYV. Macquarie raised their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Guggenheim boosted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $174.00 target price on shares of Live Nation Entertainment in a research note on Tuesday. Roth Mkm upped their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Bank of America lifted their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded down $5.06 during mid-day trading on Tuesday, reaching $121.00. 3,786,019 shares of the stock traded hands, compared to its average volume of 2,247,457. The stock has a market capitalization of $28.24 billion, a PE ratio of 44.48, a PEG ratio of 1.81 and a beta of 1.31. The business has a 50-day moving average of $137.16 and a 200 day moving average of $129.45. Live Nation Entertainment has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. On average, analysts predict that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last three months. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of LYV. Canada Pension Plan Investment Board lifted its holdings in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock valued at $1,120,177,000 after purchasing an additional 44,703 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Live Nation Entertainment by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company's stock valued at $945,635,000 after buying an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after acquiring an additional 3,168,210 shares during the period. Geode Capital Management LLC grew its position in shares of Live Nation Entertainment by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock worth $500,107,000 after acquiring an additional 108,293 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. increased its holdings in shares of Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after acquiring an additional 777,105 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.