Rosenblatt Securities Reaffirms Buy Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They presently have a $174.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 29.23% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Macquarie upped their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Roth Mkm lifted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Price Performance

NYSE LYV opened at $134.64 on Tuesday. 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 stock has a market capitalization of $31.43 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a 50 day moving average price of $137.82 and a two-hundred day moving average price of $129.34.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, equities analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after purchasing an additional 87,032 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Live Nation Entertainment by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 96,824 shares of the company’s stock valued at $10,601,000 after buying an additional 7,143 shares in the last quarter. Townsquare Capital LLC grew its stake in Live Nation Entertainment by 24.9% during the third quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock worth $477,000 after buying an additional 870 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Live Nation Entertainment by 102.1% during the third quarter. Edgestream Partners L.P. now owns 5,308 shares of the company’s stock worth $581,000 after buying an additional 2,681 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Live Nation Entertainment by 1,575.8% in the third quarter. Benjamin Edwards Inc. now owns 4,441 shares of the company’s stock valued at $486,000 after acquiring an additional 4,176 shares during the last quarter. 74.52% of the stock is currently 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.