Roth Mkm Raises Live Nation Entertainment (NYSE:LYV) Price Target to $132.00

Live Nation Entertainment (NYSE:LYV) had its price target lifted by research analysts at Roth Mkm from $120.00 to $132.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 15.47% from the stock’s previous close.

A number of other research analysts also recently weighed in on LYV. Benchmark reissued a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Oppenheimer raised their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Bank of America started coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.77.

Live Nation Entertainment Stock Down 0.9 %

Live Nation Entertainment stock traded down $1.03 during midday trading on Wednesday, hitting $114.32. 824,061 shares of the stock were exchanged, compared to its average volume of 2,118,797. Live Nation Entertainment has a 52-week low of $76.48 and a 52-week high of $116.57. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The business’s 50-day moving average price is $101.26 and its 200-day moving average price is $96.91. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 108.88, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last released its earnings results 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). The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 earnings per share. On average, research analysts expect that Live Nation Entertainment will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Select Equity Group L.P. grew its holdings in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. increased its position in shares of Live Nation Entertainment by 44.6% in 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 during the period. Vulcan Value Partners LLC raised its stake in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Live Nation Entertainment by 85.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after purchasing an additional 476,981 shares during the period. Finally, Cantillon Capital Management LLC grew its stake in shares of Live Nation Entertainment by 16.7% in the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after purchasing an additional 458,893 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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.