Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $142.13.

A number of analysts have recently weighed in on the company. Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Oppenheimer lifted their target price 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. Guggenheim upped their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen boosted their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Live Nation Entertainment Trading Up 1.6 %

NYSE:LYV opened at $136.77 on Friday. Live Nation Entertainment has a 52 week low of $82.25 and a 52 week high of $141.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $31.78 billion, a PE ratio of 145.50, a P/E/G ratio of 3.77 and a beta of 1.37. The business’s 50 day moving average is $122.77 and its two-hundred day moving average is $104.80.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. On average, analysts predict that Live Nation Entertainment will post 1.03 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Live Nation Entertainment during the third quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. World Investment Advisors LLC acquired a new position in shares of Live Nation Entertainment in the third quarter valued at $38,000. UMB Bank n.a. boosted its stake in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.