Live Nation Entertainment (NYSE:LYV) Reaches New 1-Year High on Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $150.00 to $170.00. Morgan Stanley currently has an overweight rating on the stock. Live Nation Entertainment traded as high as $155.05 and last traded at $154.73, with a volume of 1783255 shares changing hands. The stock had previously closed at $153.76.

Other analysts have also recently issued research reports about the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America upped their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Roth Mkm upped their price target on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.47.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Live Nation Entertainment by 17.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after purchasing an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock worth $65,000 after buying an additional 80 shares during the period. Western Pacific Wealth Management LP boosted its holdings in shares of Live Nation Entertainment by 10.4% during the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after buying an additional 82 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after buying an additional 88 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.6 %

The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $35.95 billion, a price-to-earnings ratio of 164.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The firm’s 50-day simple moving average is $138.26 and its 200-day simple moving average is $121.43.

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.