Live Nation Entertainment (NYSE:LYV) Given New $148.00 Price Target at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYV) had its price target raised by The Goldman Sachs Group from $132.00 to $148.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on LYV. Evercore ISI lifted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday. Guggenheim upped their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Macquarie upped their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer lifted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.71.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $126.98 on Wednesday. The firm’s 50-day moving average is $111.36 and its 200-day moving average is $100.15. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 135.09, a PEG ratio of 3.15 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76.

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

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the business’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LYV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after purchasing an additional 387,008 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Live Nation Entertainment by 0.7% in the third quarter. Public Sector Pension Investment Board now owns 488,866 shares of the company’s stock valued at $53,526,000 after purchasing an additional 3,200 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Live Nation Entertainment by 5.1% during the third quarter. MetLife Investment Management LLC now owns 47,931 shares of the company’s stock worth $5,248,000 after buying an additional 2,342 shares during the period. Townsquare Capital LLC grew its holdings in shares of Live Nation Entertainment by 24.9% during the third quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock worth $477,000 after buying an additional 870 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.