Live Nation Entertainment (NYSE:LYV) Trading Up 4.4% on Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s stock price was up 4.4% during mid-day trading on Monday after Bank of America raised their price target on the stock from $149.00 to $175.00. Bank of America currently has a buy rating on the stock. Live Nation Entertainment traded as high as $154.90 and last traded at $155.91. Approximately 656,805 shares traded hands during trading, a decline of 66% from the average daily volume of 1,953,454 shares. The stock had previously closed at $149.40.

Several other equities research analysts have also commented on LYV. Rosenblatt Securities restated a "buy" rating and set a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Macquarie raised their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. 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 note on Wednesday, December 4th. Evercore ISI raised their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Finally, Benchmark reiterated a "buy" rating and set a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

Insider Activity at Live Nation Entertainment

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

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in LYV. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $29,000. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment in the third quarter worth $31,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $40,000. Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth about $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.8 %

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 firm has a market capitalization of $32.76 billion, a P/E ratio of 51.83, a PEG ratio of 1.81 and a beta of 1.38. The stock has a 50 day moving average of $140.05 and a 200-day moving average of $123.81.

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

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.