Live Nation Entertainment (NYSE:LYV) Price Target Raised to $146.00 at Macquarie

Live Nation Entertainment (NYSE:LYV) had its target price increased by Macquarie from $130.00 to $146.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

LYV has been the subject of several other research reports. Evercore ISI upped their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Benchmark upped their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Bank of America upped their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. TD Cowen upped their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com downgraded Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Price Performance

Shares of LYV opened at $132.60 on Friday. The firm has a market cap of $30.81 billion, a PE ratio of 141.06, a price-to-earnings-growth ratio of 3.49 and a beta of 1.33. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $132.74. The business’s 50 day moving average price is $113.54 and its two-hundred day moving average price is $101.09. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 earnings per share. On average, equities analysts anticipate that Live Nation Entertainment will post 1.08 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the transaction, the director now directly owns 53,949 shares in the company, valued at $5,134,865.82. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,799 shares of company stock valued at $16,449,718. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently modified their holdings of LYV. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Live Nation Entertainment by 119.5% during 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 last quarter. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $41,000. Finally, Family Firm Inc. bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at about $42,000. 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.