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

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) reached a new 52-week high during trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $130.00 to $150.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Live Nation Entertainment traded as high as $132.17 and last traded at $131.75, with a volume of 398944 shares traded. The stock had previously closed at $129.00.

Other equities analysts have also recently issued reports about the stock. Roth Mkm boosted their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Cowen raised their price target 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. Benchmark lifted their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Guggenheim increased their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 35,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,799 shares of company stock worth $16,449,718 over the last three months. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several large investors have recently made changes to their positions in LYV. Brooklyn Investment Group bought a new stake in Live Nation Entertainment during the 3rd quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the third quarter worth $41,000. Finally, Family Firm Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter valued at $42,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

The stock has a market capitalization of $31.24 billion, a price-to-earnings ratio of 143.02, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day moving average of $114.31 and a 200 day moving average of $101.37.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the company earned $1.78 EPS. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. On average, analysts expect that Live Nation Entertainment, Inc. will post 1.08 EPS for the current year.

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.