Live Nation Entertainment (NYSE:LYV) Hits New 1-Year High at $107.63

Live Nation Entertainment, Inc. (NYSE:LYV) shares hit 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 changing hands. The stock had previously closed at $104.66.

Analyst Ratings Changes

Several research firms recently commented on LYV. Bank of America began coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target for the company. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Benchmark restated a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Finally, Macquarie reaffirmed an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment Stock Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The stock’s 50-day moving average price is $95.76 and its 200 day moving average price is $96.14. The company has a market cap of $24.55 billion, a P/E 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 released its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of 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 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after buying an additional 29,669 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after acquiring an additional 187,839 shares during the last quarter. Public Sector Pension Investment Board increased its position in Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock worth $40,129,000 after purchasing an additional 413,545 shares during the period. Artisan Partners Limited Partnership raised its holdings in Live Nation Entertainment by 7.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock worth $205,144,000 after purchasing an additional 153,825 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Live Nation Entertainment during the 1st quarter valued at about $1,454,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.