Live Nation Entertainment (NYSE:LYV) Price Target Raised to $120.00

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price target lifted by research analysts at Oppenheimer from $110.00 to $120.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price objective points to a potential upside of 29.34% from the stock's current price.

Several other equities analysts have also issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Benchmark reissued a "buy" rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Redburn Atlantic raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and increased their target price for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday. They set a "buy" rating and a $125.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and an average price target of $119.46.

Live Nation Entertainment Stock Down 1.5 %

NYSE LYV traded down $1.42 during trading hours on Friday, hitting $92.78. 1,847,625 shares of the company traded hands, compared to its average volume of 2,106,812. The business's 50-day moving average is $94.75 and its 200-day moving average is $95.77. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $107.24. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 89.74, a P/E/G ratio of 2.20 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly 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 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 business posted $1.02 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment will post 1.18 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other news, Director Ping Fu sold 1,701 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares of the company's stock, valued at approximately $1,460,759.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the company's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the transaction, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction dated Friday, August 16th. The stock was 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. The disclosure for this sale can be found here. Insiders sold a total of 8,201 shares of company stock worth $788,464 in the last 90 days. 2.85% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently made changes to their positions in the stock. Mystic Asset Management Inc. increased its holdings in shares of Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company's stock valued at $491,000 after purchasing an additional 110 shares during the period. Czech National Bank increased its holdings in shares of Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company's stock valued at $2,641,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC grew its stake in shares of Live Nation Entertainment by 44.1% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company's stock valued at $41,000 after buying an additional 119 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its stake in shares of Live Nation Entertainment by 3.2% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company's stock valued at $360,000 after buying an additional 120 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its position in Live Nation Entertainment by 5.4% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company's stock worth $237,000 after purchasing an additional 130 shares during the period. 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.