Live Nation Entertainment (NYSE:LYV) Reaches New 1-Year High at $109.38

Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $109.38 and last traded at $109.21, with a volume of 632515 shares changing hands. The stock had previously closed at $108.74.

Analysts Set New Price Targets

A number of research firms have issued reports on LYV. Oppenheimer increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America initiated coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Macquarie reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $119.46.

Live Nation Entertainment Trading Up 0.7 %

The company has a market cap of $25.15 billion, a price-to-earnings ratio of 103.56, a P/E/G ratio of 2.46 and a beta of 1.34. The business has a fifty day simple moving average of $96.71 and a 200 day simple moving average of $96.32. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LYV. Mystic Asset Management Inc. boosted its position in shares of Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after acquiring an additional 110 shares during the last quarter. Czech National Bank boosted its holdings in shares of Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after buying an additional 119 shares during the period. Meiji Yasuda Life Insurance Co raised its position in shares of Live Nation Entertainment by 3.2% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock worth $360,000 after buying an additional 120 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its holdings in Live Nation Entertainment by 5.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors 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.