Live Nation Entertainment (NYSE:LYV) Price Target Raised to $144.00

Live Nation Entertainment (NYSE:LYV) had its target price increased by Benchmark from $132.00 to $144.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on LYV. Roth Mkm increased their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America initiated coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Oppenheimer upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.43.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $129.21 on Tuesday. 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 business’s 50 day simple moving average is $112.06 and its 200 day simple moving average is $100.35. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.76. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 3.27 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data 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 net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment will post 1.11 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. This trade represents a 28.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Rapino sold 98,849 shares of the company’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 value 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 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last 90 days. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Live Nation Entertainment in the second quarter worth $748,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Live Nation Entertainment by 22.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock valued at $10,873,000 after purchasing an additional 18,931 shares in the last quarter. Select Equity Group L.P. boosted its position in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in Live Nation Entertainment in the 2nd quarter worth about $3,985,000. 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.