Live Nation Entertainment (NYSE:LYV) Sets New 52-Week High After Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price hit a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $122.00 to $130.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Live Nation Entertainment traded as high as $127.23 and last traded at $125.26, with a volume of 119378 shares. The stock had previously closed at $117.62.

A number of other brokerages also recently weighed in on LYV. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Roth Mkm raised their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Macquarie upped their target price on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Bank of America initiated coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $124.73.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 over the last three months. Company insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC increased its holdings in Live Nation Entertainment by 7.3% during the third quarter. Mutual of America Capital Management LLC now owns 19,281 shares of the company’s stock worth $2,111,000 after buying an additional 1,320 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Live Nation Entertainment by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock worth $7,279,000 after purchasing an additional 7,136 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of Live Nation Entertainment by 1.6% in the 3rd quarter. Mizuho Markets Americas LLC now owns 160,011 shares of the company’s stock valued at $17,520,000 after purchasing an additional 2,498 shares during the period. Kentucky Retirement Systems grew its holdings in Live Nation Entertainment by 1.6% during the third quarter. Kentucky Retirement Systems now owns 10,911 shares of the company’s stock worth $1,195,000 after purchasing an additional 177 shares during the period. Finally, Empowered Funds LLC raised its stake in Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after buying an additional 13,815 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day moving average price of $107.87 and a 200-day moving average price of $98.69. The company has a market capitalization of $29.02 billion, a price-to-earnings ratio of 118.88, a PEG ratio of 2.81 and a beta of 1.33.

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.