Live Nation Entertainment (NYSE:LYV) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Live Nation Entertainment (NYSE:LYV - Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $125.00 target price on the stock.

A number of other brokerages also 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 report on Thursday, August 15th. Oppenheimer reiterated an outperform rating and issued a $110.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Northcoast Research downgraded shares of Live Nation Entertainment from a buy rating to a neutral rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Finally, Benchmark reaffirmed a buy rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $118.69.

Live Nation Entertainment Price Performance

LYV stock traded down $0.08 during trading on Wednesday, hitting $95.26. The company had a trading volume of 1,506,181 shares, compared to its average volume of 2,111,771. The business has a 50 day moving average of $94.59 and a 200 day moving average of $95.79. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 90.80, a P/E/G ratio of 2.20 and a beta of 1.34. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. 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 posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (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 for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. Live Nation Entertainment's quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment will post 1.18 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares of the company's stock, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ping Fu sold 1,701 shares of the firm'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 completion of the transaction, the director now directly owns 15,128 shares of the company's stock, valued at $1,460,759.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,201 shares of company stock valued at $788,464. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment during the 1st quarter worth $32,000. Rise Advisors LLC boosted its stake in shares of Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company's stock valued at $35,000 after buying an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after buying an additional 202 shares in the last quarter. Lindbrook Capital LLC lifted its position in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company's stock worth $41,000 after purchasing an additional 119 shares during the period. Finally, UMB Bank n.a. increased its holdings in Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $41,000 after buying an additional 176 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.