Live Nation Entertainment (NYSE:LYV) Sets New 12-Month High - Still a Buy?

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $116.53 and last traded at $116.09, with a volume of 282669 shares changing hands. The stock had previously closed at $115.84.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LYV shares. Oppenheimer upped their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, September 6th. Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a "buy" rating and a $125.00 target price for the company. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.85.

Live Nation Entertainment Price Performance

The company has a 50-day moving average price of $101.26 and a two-hundred day moving average price of $96.91. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $26.50 billion, a PE ratio of 109.86, a P/E/G ratio of 2.65 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the previous year, the company earned $1.02 EPS. Live Nation Entertainment's quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now owns 59,789 shares of the company's stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 in the last 90 days. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LYV. Select Equity Group L.P. grew its position in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company's stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. D1 Capital Partners L.P. grew its position in shares of Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company's stock worth $332,171,000 after acquiring an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC grew its position in shares of Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company's stock worth $252,663,000 after acquiring an additional 855,197 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Live Nation Entertainment by 85.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company's stock worth $97,329,000 after acquiring an additional 476,981 shares in the last quarter. Finally, Cantillon Capital Management LLC grew its position in shares of Live Nation Entertainment by 16.7% in the 1st quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company's stock worth $339,066,000 after acquiring an additional 458,893 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

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.