Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Guggenheim Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price target lifted by investment analysts at Guggenheim from $130.00 to $146.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 14.98% from the stock’s current price.

LYV has been the subject of a number of other reports. Bank of America started 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. Evercore ISI raised their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday. Benchmark boosted their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday. Macquarie raised their target price on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer increased their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $135.71.

Live Nation Entertainment Trading Down 2.1 %

NYSE:LYV opened at $126.98 on Tuesday. The company has a market capitalization of $29.25 billion, a PE ratio of 135.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76. The stock has a fifty day simple moving average of $111.36 and a 200-day simple moving average of $100.15. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LYV. Select Equity Group L.P. lifted its holdings in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares in the last quarter. D1 Capital Partners L.P. lifted its stake in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC boosted its holdings in Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after purchasing an additional 855,197 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Live Nation Entertainment by 85.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after purchasing an additional 476,981 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Live Nation Entertainment by 34.4% during the 1st quarter. Bessemer Group Inc. now owns 1,397,185 shares of the company’s stock worth $147,781,000 after purchasing an additional 357,436 shares during the last quarter. 74.52% of the stock is currently 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.