Live Nation Entertainment (NYSE:LYV) PT Raised to $137.00

Live Nation Entertainment (NYSE:LYV) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $118.00 to $137.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.78% from the stock’s current price.

Several other research firms have also weighed in on LYV. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm lifted their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Macquarie lifted their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.23.

Live Nation Entertainment Stock Down 0.1 %

Shares of NYSE LYV opened at $116.32 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market capitalization of $26.72 billion, a PE ratio of 110.78, a price-to-earnings-growth ratio of 2.78 and a beta of 1.35. The firm’s 50-day moving average is $104.91 and its 200-day moving average is $97.65. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $117.48.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 EPS. Equities analysts expect that Live Nation Entertainment will post 1.18 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on 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 $16,349,525.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. D1 Capital Partners L.P. raised its stake in Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares during the period. Vulcan Value Partners LLC boosted its stake in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after acquiring an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Live Nation Entertainment by 85.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after acquiring an additional 476,981 shares during the last quarter. Finally, Cantillon Capital Management LLC raised its stake in Live Nation Entertainment by 16.7% in the 1st quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock valued at $339,066,000 after acquiring an additional 458,893 shares during the period. 74.52% of the stock is 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.