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

Live Nation Entertainment (NYSE:LYV) had its price target boosted by equities researchers at Macquarie from $130.00 to $146.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price would suggest a potential upside of 13.10% from the company’s previous close.

LYV has been the topic of several other reports. Benchmark increased 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. Roth Mkm boosted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Live Nation Entertainment Trading Down 0.1 %

Live Nation Entertainment stock traded down $0.10 during mid-day trading on Friday, reaching $129.09. 2,612,015 shares of the company traded hands, compared to its average volume of 2,176,413. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The firm’s 50 day moving average price is $112.06 and its 200 day moving average price is $100.35. The firm has a market capitalization of $29.99 billion, a price-to-earnings ratio of 137.57, a P/E/G ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.83.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 EPS. On average, analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the business’s 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 directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The trade was a 28.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now owns 53,949 shares in the company, valued at $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last three months. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LYV. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment in the third quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the third quarter valued at $41,000. Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the 3rd quarter valued at about $42,000. Finally, Cromwell Holdings LLC boosted its stake in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares during 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.