Live Nation Entertainment (NYSE:LYV) Sets New 12-Month High at $107.63

Live Nation Entertainment, Inc. (NYSE:LYV) reached a new 52-week high on Tuesday . The company traded as high as $107.63 and last traded at $107.26, with a volume of 1232208 shares. The stock had previously closed at $104.66.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Bank of America started coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $119.46.

Live Nation Entertainment Trading Up 2.1 %

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The business has a 50 day simple moving average of $95.76 and a two-hundred day simple moving average of $96.14. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 99.66, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34.

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

Insider Activity

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

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. Gilbert & Cook Inc. lifted its stake in Live Nation Entertainment by 4.0% during the fourth quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock valued at $605,000 after purchasing an additional 249 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $233,000. Coldstream Capital Management Inc. acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $225,000. Franklin Resources Inc. increased its position in shares of Live Nation Entertainment by 22.3% in the fourth quarter. Franklin Resources Inc. now owns 58,542 shares of the company’s stock worth $5,480,000 after acquiring an additional 10,661 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Live Nation Entertainment by 4.9% during the fourth quarter. US Bancorp DE now owns 21,030 shares of the company’s stock valued at $1,968,000 after acquiring an additional 987 shares during the period. 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.