Live Nation Entertainment (NYSE:LYV) Price Target Raised to $150.00

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price raised by research analysts at Deutsche Bank Aktiengesellschaft from $130.00 to $150.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 11.91% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Roth Mkm boosted their price target 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. StockNews.com downgraded Live Nation Entertainment from a "hold" rating to a "sell" rating in a research report on Tuesday, November 12th. Finally, TD Cowen increased their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Live Nation Entertainment Price Performance

NYSE LYV traded up $1.44 on Tuesday, reaching $134.04. The company had a trading volume of 958,766 shares, compared to its average volume of 2,176,368. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $31.14 billion, a PE ratio of 141.06, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $134.49. The firm's 50 day moving average price is $113.54 and its 200 day moving average price is $101.09.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. As a group, equities analysts predict that Live Nation Entertainment will post 1.08 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 3,702,115 shares of the company's stock, valued at $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now directly owns 53,949 shares in the company, valued at $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,799 shares of company stock worth $16,449,718 over the last three months. 2.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Large investors have recently bought and sold shares of the business. Select Equity Group L.P. grew its holdings in 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 valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board grew its stake in Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company's stock valued at $817,658,000 after acquiring an additional 155,920 shares during the period. Principal Financial Group Inc. increased its holdings in Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock worth $787,950,000 after acquiring an additional 87,032 shares in the last quarter. Geode Capital Management LLC raised its position in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock worth $410,664,000 after acquiring an additional 321,832 shares during the period. Finally, D1 Capital Partners L.P. lifted its holdings 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 purchasing an additional 1,093,000 shares in the last quarter. Institutional investors and hedge funds 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.