Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $138.57.

A number of research analysts have commented on LYV shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Benchmark boosted their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI increased their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Bank of America boosted their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday. Finally, TD Cowen increased their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Insider Transactions at Live Nation Entertainment

In related news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,500 shares of company stock worth $17,097,016 over the last 90 days. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Cromwell Holdings LLC increased its stake in shares of 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 acquiring an additional 88 shares during the last quarter. Private Advisor Group LLC increased its stake in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after purchasing an additional 89 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares during the period. Empirical Finance LLC boosted its position in shares of Live Nation Entertainment by 2.3% during the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after purchasing an additional 105 shares in the last quarter. Finally, Mystic Asset Management Inc. grew its holdings in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $129.00 on Tuesday. The business’s 50 day moving average is $112.78 and its 200-day moving average is $100.70. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $29.97 billion, a PE ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.83.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. Sell-side analysts predict that Live Nation Entertainment will post 1.11 earnings per share for the current year.

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.