Live Nation Entertainment’s (LYV) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $174.00 price target on the stock.

Several other equities analysts have also recently issued reports on LYV. Roth Mkm boosted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Guggenheim boosted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Macquarie increased their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.33.

Live Nation Entertainment Trading Down 6.6 %

Shares of LYV opened at $125.80 on Tuesday. The stock has a market capitalization of $29.36 billion, a P/E ratio of 46.25, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month 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 firm has a fifty day simple moving average of $137.55 and a two-hundred day simple moving average of $129.32.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 in the last three months. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after buying an additional 3,168,210 shares during the period. Groupama Asset Managment purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $259,000,000. Norges Bank bought a new position in Live Nation Entertainment in the fourth quarter worth about $255,955,000. ValueAct Holdings L.P. purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at about $111,094,000. Finally, PointState Capital LP bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $102,762,000. 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.