Live Nation Entertainment (NYSE:LYV) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Live Nation Entertainment (NYSE:LYV) from a sell rating to a hold rating in a report published on Wednesday.

A number of other research analysts have also recently commented on the company. Guggenheim increased their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI increased their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen boosted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Benchmark lifted their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $140.29 on Wednesday. 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 cap of $32.60 billion, a PE ratio of 149.24, a P/E/G ratio of 3.75 and a beta of 1.33. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $140.29. The business’s 50-day moving average price is $116.74 and its two-hundred day moving average price is $102.23.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. As a group, analysts expect that Live Nation Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the 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 transaction, the director now owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This represents 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 business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Large investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. UMB Bank n.a. grew its holdings 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. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at $41,000. Finally, Family Firm Inc. bought a new position in Live Nation Entertainment during the 2nd quarter valued at $42,000. 74.52% of the stock is currently owned by institutional investors.

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.