Live Nation Entertainment (NYSE:LYV) Price Target Raised to $148.00

Live Nation Entertainment (NYSE:LYV - Free Report) had its price objective increased by The Goldman Sachs Group from $132.00 to $148.00 in a research report sent to investors on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also issued reports on LYV. StockNews.com lowered shares of Live Nation Entertainment from a "hold" rating to a "sell" rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Evercore ISI raised their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday. Bank of America initiated coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Roth Mkm boosted their target price 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.71.

Live Nation Entertainment Price Performance

Shares of LYV stock traded down $2.72 during trading hours on Wednesday, reaching $126.95. The stock had a trading volume of 3,665,072 shares, compared to its average volume of 2,164,620. The stock's fifty day simple moving average is $110.72 and its 200 day simple moving average is $99.96. The firm has a market capitalization of $29.24 billion, a PE ratio of 135.15, a PEG ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.76. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, equities research analysts predict that Live Nation Entertainment will post 1.18 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company's stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business'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 transaction, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company's stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.72% of the company's stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently bought and sold shares of LYV. Vanguard Group Inc. grew its position in shares of Live Nation Entertainment by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company's stock worth $1,911,133,000 after purchasing an additional 110,097 shares in the last quarter. Select Equity Group L.P. grew its holdings in Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company's stock valued at $1,213,053,000 after buying an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company's stock worth $817,658,000 after buying an additional 155,920 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock worth $787,950,000 after acquiring an additional 87,032 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its stake in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company's stock valued at $332,171,000 after acquiring an additional 1,093,000 shares in the last quarter. 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.