Macquarie Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price objective upped by investment analysts at Macquarie from $146.00 to $165.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Macquarie's target price indicates a potential upside of 34.62% from the company's previous close.

Other analysts also recently issued research reports about the company. Roth Mkm boosted their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. TD Cowen upped their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Oppenheimer lifted 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. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.27.

Remove Ads

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded down $4.94 during mid-day trading on Thursday, hitting $122.57. 3,472,098 shares of the company traded hands, compared to its average volume of 2,112,234. The stock has a fifty day moving average price of $140.30 and a 200-day moving average price of $126.17. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 45.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment has a one year low of $86.81 and a one year high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. On average, equities analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.72% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Live Nation Entertainment by 14.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,561 shares of the company's stock valued at $390,000 after acquiring an additional 453 shares in the last quarter. Van ECK Associates Corp increased its stake in Live Nation Entertainment by 0.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,783 shares of the company's stock valued at $5,826,000 after purchasing an additional 410 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Live Nation Entertainment by 7.0% in the third quarter. QRG Capital Management Inc. now owns 15,517 shares of the company's stock worth $1,699,000 after buying an additional 1,017 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Live Nation Entertainment by 3.8% in the third quarter. Amalgamated Bank now owns 33,055 shares of the company's stock worth $3,619,000 after buying an additional 1,210 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock valued at $787,950,000 after buying an additional 87,032 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

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.