Live Nation Entertainment, Inc. (NYSE:LYV) Receives $124.73 Consensus PT from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $137.43.

LYV has been the subject of several recent analyst reports. Macquarie upped their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. StockNews.com cut shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Roth Mkm lifted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Rosenblatt Securities restated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Guggenheim upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 28.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the transaction, the director now directly owns 53,949 shares in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % 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. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment in the third quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Live Nation Entertainment by 119.5% in the 2nd 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. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $41,000. Cromwell Holdings LLC grew its stake in 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 purchasing an additional 88 shares during the period. Finally, UMB Bank n.a. lifted its position in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.7 %

NYSE LYV opened at $129.21 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The business has a fifty day simple moving average of $112.06 and a 200 day simple moving average of $100.35. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.76. The firm has a market capitalization of $29.76 billion, a P/E ratio of 137.46, a PEG ratio of 3.15 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results 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 net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the firm earned $1.78 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment will post 1.18 EPS for the current fiscal year.

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.