Live Nation Entertainment (NYSE:LYV) Price Target Raised to $155.00

Live Nation Entertainment (NYSE:LYV) had its price target lifted by Oppenheimer from $120.00 to $155.00 in a report released on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Macquarie increased their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm increased their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Benchmark raised their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $129.00 on Tuesday. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.83. The stock’s 50-day moving average is $112.78 and its 200 day moving average is $100.62. The company has a market cap of $29.97 billion, a P/E ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92.

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

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,500 shares of company stock worth $17,097,016. 2.72% of the stock is owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors have recently bought and sold shares of LYV. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $31,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. UMB Bank n.a. boosted its stake in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $41,000. Finally, Family Firm Inc. acquired a new stake in shares of Live Nation Entertainment in the second quarter worth approximately $42,000. 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.