Benchmark Reaffirms Buy Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $178.00 target price on the stock. Benchmark’s price target indicates a potential upside of 36.98% from the stock’s current price.

LYV has been the subject of a number of other reports. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and set a $174.00 target price on shares of Live Nation Entertainment in a report on Tuesday. Macquarie upped their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Bank of America lifted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Finally, Guggenheim increased their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Live Nation Entertainment Price Performance

Shares of LYV traded down $0.63 during midday trading on Tuesday, hitting $129.95. The company’s stock had a trading volume of 606,261 shares, compared to its average volume of 2,218,011. The company’s fifty day simple moving average is $138.04 and its two-hundred day simple moving average is $129.07. Live Nation Entertainment has a one year low of $86.81 and a one year high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $30.33 billion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. As a group, equities analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Measured Risk Portfolios Inc. purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $29,000. World Investment Advisors LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at $38,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth $40,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $42,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.