Live Nation Entertainment (NYSE:LYV) Sets New 12-Month High - Here's What Happened

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $116.68 and last traded at $116.57, with a volume of 267045 shares traded. The stock had previously closed at $115.68.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LYV. Rosenblatt Securities reaffirmed a "buy" rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm lifted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Macquarie boosted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Finally, Oppenheimer upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, September 6th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.77.

Live Nation Entertainment Stock Down 0.8 %

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The company's fifty day moving average price is $103.62 and its 200-day moving average price is $97.30. The stock has a market capitalization of $26.36 billion, a PE ratio of 109.60, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $1.03 EPS 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 the consensus estimate of $6.02 billion. During the same period last year, the firm posted $1.02 earnings per share. The company's revenue was up 7.0% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company's stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey T. Hinson sold 5,640 shares of Live Nation Entertainment stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the sale, the director now directly owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. grew its position in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. UMB Bank n.a. grew its holdings in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company's stock worth $41,000 after acquiring an additional 176 shares during the period. Family Firm Inc. purchased a new stake in Live Nation Entertainment during the second quarter valued at $42,000. Cromwell Holdings LLC lifted its holdings in Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock valued at $47,000 after acquiring an additional 88 shares during the period. Finally, American National Bank & Trust bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $50,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.