Live Nation Entertainment (NYSE:LYV) Trading Up 2.7% – Here’s What Happened

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price traded up 2.7% during trading on Monday . The company traded as high as $128.02 and last traded at $128.44. 840,871 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 2,195,854 shares. The stock had previously closed at $125.03.

Analysts Set New Price Targets

Several analysts have recently weighed in on LYV shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Guggenheim increased their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Macquarie lifted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Stock Performance

The stock’s 50 day simple moving average is $137.90 and its two-hundred day simple moving average is $129.30. The stock has a market cap of $30.79 billion, a P/E ratio of 48.51, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its earnings results 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. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,702 shares of company stock worth $10,497,143. Insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LYV. Amundi boosted its stake in Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Live Nation Entertainment by 595.3% in the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after acquiring an additional 33,980 shares during the period. Atria Wealth Solutions Inc. bought a new position in Live Nation Entertainment during the fourth quarter worth about $226,000. Charles Schwab Investment Management Inc. boosted its holdings in Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after purchasing an additional 48,949 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $754,000. Institutional investors and hedge funds 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.