Live Nation Entertainment (NYSE:LYV) Hits New 52-Week High on Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $148.00 to $166.00. The Goldman Sachs Group currently has a buy rating on the stock. Live Nation Entertainment traded as high as $152.27 and last traded at $152.11, with a volume of 1599831 shares traded. The stock had previously closed at $149.69.

Several other research firms also recently commented on LYV. Roth Mkm increased their target price on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Evercore ISI increased their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Guggenheim increased their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.60.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after purchasing an additional 75 shares during the period. SOA Wealth Advisors LLC. lifted its stake in Live Nation Entertainment by 19.0% during the fourth quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company's stock worth $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP lifted its stake in Live Nation Entertainment by 10.4% during the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company's stock worth $112,000 after purchasing an additional 82 shares during the period. Cromwell Holdings LLC lifted its stake in Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock worth $47,000 after purchasing an additional 88 shares during the period. Finally, Private Advisor Group LLC lifted its stake in Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company's stock worth $352,000 after purchasing an additional 89 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 0.8 %

The company has a market cap of $35.73 billion, a P/E ratio of 163.61, a PEG ratio of 1.73 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business's 50 day moving average price is $137.85 and its 200-day moving average price is $120.99.

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.