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

Live Nation Entertainment (NYSE:LYV - Free Report) had its price target lifted by Evercore ISI from $110.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

LYV has been the subject of a number of other reports. Benchmark increased their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Oppenheimer boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, September 6th. Roth Mkm lifted their price target on shares of 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, Rosenblatt Securities reissued a "buy" rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $134.77.

Live Nation Entertainment Stock Up 4.7 %

NYSE LYV traded up $5.87 during trading hours on Tuesday, hitting $129.67. The company's stock had a trading volume of 6,887,049 shares, compared to its average volume of 2,159,983. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The company's 50-day simple moving average is $110.04 and its two-hundred day simple moving average is $99.68. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76. The company has a market capitalization of $29.87 billion, a PE ratio of 121.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 earnings per share. Research analysts anticipate that Live Nation Entertainment will post 1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares of the company's stock, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 over the last ninety days. Corporate insiders own 2.72% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYV. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company's stock valued at $19,494,000 after acquiring an additional 29,669 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Live Nation Entertainment during the second quarter worth approximately $748,000. CANADA LIFE ASSURANCE Co boosted its stake in Live Nation Entertainment by 22.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company's stock valued at $10,873,000 after purchasing an additional 18,931 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Live Nation Entertainment by 12.3% in the 2nd 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 in the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at $3,985,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.