Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $134.77.

A number of research analysts have recently weighed in on the company. Benchmark raised their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday. Roth Mkm increased their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Macquarie increased 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. TD Cowen increased their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $5.44 during mid-day trading on Tuesday, reaching $129.24. The stock had a trading volume of 3,175,822 shares, compared to its average volume of 2,143,176. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.76. The company has a market cap of $29.77 billion, a P/E ratio of 121.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The business has a 50-day simple moving average of $110.04 and a 200 day simple moving average of $99.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.

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

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company's stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. Insiders own 2.72% of the company's stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently modified their holdings of the company. Cromwell Holdings LLC raised its holdings in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock valued at $47,000 after buying an additional 88 shares during the period. Private Advisor Group LLC raised its holdings in shares of Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company's stock valued at $352,000 after buying an additional 89 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Live Nation Entertainment by 1.4% during the 3rd 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 raised 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 valued at $508,000 after buying an additional 105 shares during the period. Finally, Mystic Asset Management Inc. raised its holdings in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company's stock valued at $491,000 after buying an additional 110 shares during the period. 74.52% of the stock is currently 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.