Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price objective lifted by Oppenheimer from $120.00 to $155.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target suggests a potential upside of 19.53% from the company's current price.
A number of other equities research analysts have also issued reports on LYV. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Macquarie boosted their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Roth Mkm upped their price objective 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. Evercore ISI boosted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday. 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 target for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.77.
Read Our Latest Analysis on LYV
Live Nation Entertainment Trading Up 4.7 %
LYV stock traded up $5.87 during midday trading on Tuesday, hitting $129.67. 6,887,049 shares of the company's stock were exchanged, compared to its average volume of 2,159,983. Live Nation Entertainment has a one year low of $81.38 and a one year high of $130.76. The stock's fifty day moving average price is $110.04 and its 200-day moving average price is $99.68. The company has a market cap 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. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.
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. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business's revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Research analysts predict 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 that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares of the company's stock, valued at $55,255,395. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business's stock in a transaction on 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 directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.72% of the company's stock.
Institutional Investors Weigh In On Live Nation Entertainment
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company's stock valued at $1,911,133,000 after purchasing an additional 110,097 shares in the last quarter. Select Equity Group L.P. boosted its stake in Live Nation Entertainment by 12.3% during the 2nd 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 last quarter. Canada Pension Plan Investment Board increased its holdings in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company's stock worth $817,658,000 after purchasing an additional 155,920 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock valued at $787,950,000 after purchasing an additional 87,032 shares in the last quarter. Finally, D1 Capital Partners L.P. grew 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 worth $332,171,000 after buying an additional 1,093,000 shares in the last quarter. Institutional investors own 74.52% of the company's stock.
About Live Nation Entertainment
(
Get Free Report)
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.
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