Live Nation Entertainment (NYSE:LYV) Price Target Raised to $155.00

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Guggenheim from $146.00 to $155.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Evercore ISI raised their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Bank of America upped their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

Live Nation Entertainment Trading Up 1.6 %

Shares of NYSE:LYV opened at $136.77 on Wednesday. The firm has a fifty day moving average of $123.33 and a two-hundred day moving average of $105.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12-month low of $82.25 and a 12-month high of $141.18. The firm has a market capitalization of $31.78 billion, a P/E ratio of 145.50, a price-to-earnings-growth ratio of 3.77 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment will post 1.03 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction dated 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 sale, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,799 shares of company stock worth $16,449,718. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the period. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter worth $38,000. UMB Bank n.a. boosted its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $41,000. Institutional investors own 74.52% of the company’s stock.

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.