Live Nation Entertainment (NYSE:LYV) Price Target Raised to $165.00 at Macquarie

Live Nation Entertainment (NYSE:LYV) had its price target boosted by Macquarie from $146.00 to $165.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s price objective suggests a potential upside of 21.29% from the company’s previous close.

Several other research analysts have also commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Evercore ISI boosted their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America raised their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Oppenheimer raised their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Stock Down 0.6 %

Shares of LYV stock traded down $0.80 during mid-day trading on Thursday, reaching $136.04. 476,728 shares of the company were exchanged, compared to its average volume of 2,086,343. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day simple moving average is $140.60 and its 200 day simple moving average is $125.32. The company has a market capitalization of $31.75 billion, a P/E ratio of 50.01, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Research analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insider Activity

In other news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Siemens Fonds Invest GmbH purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth $832,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $8,865,000. Mackenzie Financial Corp lifted its holdings in shares of Live Nation Entertainment by 655.9% during the 4th quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock valued at $11,761,000 after buying an additional 78,807 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $9,449,000. Finally, Neo Ivy Capital Management acquired a new position in Live Nation Entertainment in the fourth quarter worth approximately $102,000. Hedge funds and other institutional investors 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.