Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $151.47.

A number of analysts recently weighed in on LYV shares. Roth Mkm upped their price target on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Bank of America boosted their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. TD Cowen upped their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th.

Live Nation Entertainment Trading Down 0.7 %

Shares of LYV stock opened at $153.59 on Thursday. Live Nation Entertainment has a fifty-two week low of $86.81 and a fifty-two week high of $155.10. The firm’s 50 day moving average price is $138.64 and its two-hundred day moving average price is $121.66. The stock has a market cap of $35.69 billion, a price-to-earnings ratio of 163.39, a price-to-earnings-growth ratio of 1.78 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently added to or reduced their stakes in the company. Independent Franchise Partners LLP raised its holdings in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $259,000,000. Norges Bank acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $255,955,000. ValueAct Holdings L.P. bought a new position in Live Nation Entertainment in the third quarter worth about $111,094,000. Finally, PointState Capital LP acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $102,762,000. 74.52% of the stock is currently owned by institutional investors.

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.