Live Nation Entertainment (NYSE:LYV) Price Target Raised to $163.00

Live Nation Entertainment (NYSE:LYV) had its price objective raised by Citigroup from $130.00 to $163.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Oppenheimer increased their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI increased their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group increased their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $140.29 on Wednesday. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $140.29. The firm has a market capitalization of $32.60 billion, a price-to-earnings ratio of 149.24, a price-to-earnings-growth ratio of 3.75 and a beta of 1.33. The business has a 50 day simple moving average of $116.74 and a 200 day simple moving average of $102.23. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period in the prior year, the company posted $1.78 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Live Nation Entertainment will post 1.04 EPS for the current year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’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 sale, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently made changes to their positions in LYV. Select Equity Group L.P. lifted its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. D1 Capital Partners L.P. lifted its stake in shares of 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. ValueAct Holdings L.P. bought a new stake in shares of Live Nation Entertainment in the third quarter valued at about $111,094,000. PointState Capital LP bought a new stake in shares of Live Nation Entertainment in the third quarter valued at about $102,762,000. Finally, Vulcan Value Partners LLC lifted its stake in shares of Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after buying an additional 855,197 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.