Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after Macquarie raised their price target on the stock from $125.00 to $130.00. Macquarie currently has an outperform rating on the stock. Live Nation Entertainment traded as high as $112.03 and last traded at $111.82, with a volume of 38737 shares. The stock had previously closed at $111.59.
Other equities analysts have also issued reports about the stock. Bank of America began coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a "buy" rating and a $125.00 price objective on the stock. Benchmark restated a "buy" rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.85.
Check Out Our Latest Stock Analysis on LYV
Insider Activity at Live Nation Entertainment
In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company's stock, valued at approximately $16,349,525.08. This represents 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 accessible through the SEC website. In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,000 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company's stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 in the last ninety days. Company insiders own 2.85% of the company's stock.
Institutional Trading of Live Nation Entertainment
A number of hedge funds have recently added to or reduced their stakes in LYV. Crossmark Global Holdings Inc. increased its position in shares of Live Nation Entertainment by 19.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,858 shares of the company's stock valued at $922,000 after buying an additional 1,599 shares in the last quarter. Shell Asset Management Co. acquired a new position in Live Nation Entertainment during the fourth quarter worth $1,190,000. Hancock Whitney Corp lifted its holdings in Live Nation Entertainment by 1.9% during the fourth quarter. Hancock Whitney Corp now owns 52,435 shares of the company's stock valued at $4,908,000 after purchasing an additional 997 shares in the last quarter. Putnam Investments LLC grew its position in shares of Live Nation Entertainment by 3.0% in the fourth quarter. Putnam Investments LLC now owns 1,188,099 shares of the company's stock valued at $111,206,000 after purchasing an additional 35,132 shares during the period. Finally, Honeycomb Asset Management LP purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $18,720,000. 74.52% of the stock is owned by hedge funds and other institutional investors.
Live Nation Entertainment Stock Performance
The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 107.20, a P/E/G ratio of 2.46 and a beta of 1.35. The firm's 50-day moving average is $99.33 and its two-hundred day moving average is $96.72. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $1.02 EPS. Live Nation Entertainment's revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.
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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