Live Nation Entertainment (NYSE:LYV) Receives "Buy" Rating from Rosenblatt Securities

Live Nation Entertainment (NYSE:LYV - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $174.00 target price on the stock. Rosenblatt Securities' target price points to a potential upside of 38.31% from the stock's current price.

Several other research firms also recently commented on LYV. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Morgan Stanley increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Bank of America increased their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, Guggenheim increased their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.33.

Remove Ads

Live Nation Entertainment Stock Performance

NYSE:LYV traded down $8.85 during trading on Tuesday, reaching $125.80. The company's stock had a trading volume of 3,395,038 shares, compared to its average volume of 2,236,286. Live Nation Entertainment has a 12 month low of $86.81 and a 12 month high of $157.75. The firm has a market cap of $29.36 billion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The firm has a 50 day moving average of $137.82 and a 200-day moving average of $129.34. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. Research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last quarter. 2.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently modified their holdings of the company. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $29,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $38,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $40,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

About Live Nation Entertainment

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.