Live Nation Entertainment (NYSE:LYV) PT Raised to $120.00

Live Nation Entertainment (NYSE:LYV) had its price target lifted by Oppenheimer from $110.00 to $120.00 in a research report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Roth Mkm reaffirmed a buy rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Benchmark reiterated a buy rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Bank of America initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a buy rating and a $125.00 target price on the stock. Finally, Northcoast Research cut shares of Live Nation Entertainment from a buy rating to a neutral rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of Moderate Buy and an average price target of $119.46.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $94.86 on Friday. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 90.34, a PEG ratio of 2.21 and a beta of 1.34. Live Nation Entertainment has a one year low of $76.48 and a one year high of $107.24. The business has a fifty day simple moving average of $94.73 and a 200 day simple moving average of $95.84. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment will post 1.19 EPS for the current year.

Insider Activity

In related news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the transaction, the director now owns 15,128 shares in the company, valued at approximately $1,460,759.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the sale, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold 8,201 shares of company stock valued at $788,464 over the last three months. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mystic Asset Management Inc. lifted its stake in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares during the period. Czech National Bank increased its holdings in Live Nation Entertainment by 0.5% in the first 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 lifted its stake in Live Nation Entertainment by 44.1% in the first 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 boosted its holdings in Live Nation Entertainment by 3.2% during the second 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 last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in shares of Live Nation Entertainment by 5.4% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock worth $237,000 after buying an additional 130 shares during the period. 74.52% of the stock is 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.