Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) rose 2.7% during mid-day trading on Monday . The stock traded as high as $128.02 and last traded at $128.44. Approximately 840,871 shares changed hands during trading, a decline of 62% from the average daily volume of 2,195,854 shares. The stock had previously closed at $125.03.
Wall Street Analyst Weigh In
Several research firms recently commented on LYV. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Roth Mkm boosted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Rosenblatt Securities restated a "buy" rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $160.33.
View Our Latest Stock Report on Live Nation Entertainment
Live Nation Entertainment Trading Down 5.1 %
The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $29.82 billion, a PE ratio of 47.20, a PEG ratio of 1.81 and a beta of 1.38. The company has a 50 day simple moving average of $137.82 and a two-hundred day simple moving average of $129.34.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.
Insider Activity at Live Nation Entertainment
In related news, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Capo sold 5,066 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company's stock.
Institutional Trading of Live Nation Entertainment
A number of hedge funds have recently modified their holdings of LYV. Siemens Fonds Invest GmbH bought a new stake in Live Nation Entertainment in the 4th quarter valued at $832,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Live Nation Entertainment in the fourth quarter valued at $8,865,000. Mackenzie Financial Corp raised its stake in Live Nation Entertainment by 655.9% during the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company's stock worth $11,761,000 after acquiring an additional 78,807 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $9,449,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $102,000. 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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