Live Nation Entertainment (NYSE:LYV) Price Target Raised to $137.00

Live Nation Entertainment (NYSE:LYV) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $118.00 to $137.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.41% from the company’s previous close.

Several other analysts have also commented on LYV. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Bank of America began coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Roth Mkm raised their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Macquarie increased their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Oppenheimer increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.23.

Live Nation Entertainment Trading Down 0.8 %

Shares of Live Nation Entertainment stock opened at $114.73 on Thursday. The firm’s 50 day simple moving average is $104.04 and its two-hundred day simple moving average is $97.43. The firm has a market capitalization of $26.36 billion, a price-to-earnings ratio of 109.27, a PEG ratio of 2.65 and a beta of 1.35. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $116.68. 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) last released its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the firm earned $1.02 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Live Nation Entertainment will post 1.21 EPS for the current year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. 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. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. increased its position in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. Cromwell Holdings LLC increased its stake in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after purchasing an additional 88 shares in the last quarter. UMB Bank n.a. boosted its position in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Live Nation Entertainment in the second quarter valued at $42,000. Finally, American National Bank & Trust acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at about $50,000. 74.52% of the stock is 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.