Live Nation Entertainment (NYSE:LYV) Given New $150.00 Price Target at Deutsche Bank Aktiengesellschaft

Live Nation Entertainment (NYSE:LYV) had its price objective upped by Deutsche Bank Aktiengesellschaft from $130.00 to $150.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently commented on LYV. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Guggenheim upped their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Macquarie boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Bank of America boosted their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Oppenheimer lifted their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $140.26 on Tuesday. The company has a market cap of $32.59 billion, a PE ratio of 149.21, a price-to-earnings-growth ratio of 3.59 and a beta of 1.33. 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 company’s 50-day moving average price is $116.74 and its 200-day moving average price is $102.18. Live Nation Entertainment has a twelve month low of $81.38 and a twelve month high of $140.29.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the business earned $1.78 EPS. The business’s revenue was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Live Nation Entertainment will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. This trade represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,799 shares of company stock worth $16,449,718 in the last quarter. 2.72% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Select Equity Group L.P. increased its position in Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares during the period. Principal Financial Group Inc. grew its stake in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after purchasing an additional 87,032 shares during the period. Geode Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares during the period. Finally, D1 Capital Partners L.P. boosted its holdings in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares in the last quarter. Hedge funds and other 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.