Live Nation Entertainment (NYSE:LYV) Sets New 52-Week High at $107.24

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $107.24 and last traded at $106.78, with a volume of 16390 shares trading hands. The stock had previously closed at $106.81.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $114.00 in a research note on Friday, January 12th. Oppenheimer raised their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Rosenblatt Securities lifted their price objective on shares of Live Nation Entertainment from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.40.

Live Nation Entertainment Stock Down 0.3 %

The business’s 50-day moving average is $95.22 and its 200-day moving average is $89.30. The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 80.31 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently made changes to their positions in LYV. Mango Five Family Inc. purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $25,000. Providence Capital Advisors LLC lifted its stake in Live Nation Entertainment by 6,674.2% during the 1st quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company’s stock worth $30,000 after acquiring an additional 2,069 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in Live Nation Entertainment during the third quarter worth about $31,000. Creative Financial Designs Inc. ADV lifted its position in shares of Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $33,000. 74.52% of the stock is currently 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.