Live Nation Entertainment (NYSE:LYV) Reaches New 12-Month High – Still a Buy?

Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during trading on Tuesday . The company traded as high as $116.53 and last traded at $116.09, with a volume of 282669 shares traded. The stock had previously closed at $115.84.

Analyst Upgrades and Downgrades

LYV has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Benchmark reiterated a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Bank of America initiated coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Oppenheimer lifted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Finally, Macquarie increased their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.85.

Live Nation Entertainment Trading Down 0.5 %

The company has a 50 day moving average of $100.76 and a 200-day moving average of $96.84. The stock has a market cap of $26.48 billion, a price-to-earnings ratio of 110.06, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last quarter. 2.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of Live Nation Entertainment by 3.2% during the 3rd quarter. Creative Planning now owns 29,405 shares of the company’s stock worth $3,220,000 after buying an additional 904 shares during the last quarter. Procyon Advisors LLC lifted its position in Live Nation Entertainment by 4.0% in the third quarter. Procyon Advisors LLC now owns 9,535 shares of the company’s stock valued at $1,044,000 after acquiring an additional 363 shares during the last quarter. Crestmont Private Wealth LLC acquired a new position in Live Nation Entertainment in the third quarter valued at $220,000. Exchange Traded Concepts LLC grew its holdings in shares of Live Nation Entertainment by 2.5% during the third quarter. Exchange Traded Concepts LLC now owns 7,166 shares of the company’s stock worth $785,000 after purchasing an additional 172 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of Live Nation Entertainment by 4.0% during the third quarter. Gateway Investment Advisers LLC now owns 83,233 shares of the company’s stock worth $9,113,000 after purchasing an additional 3,182 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

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.