Live Nation Entertainment, Inc. (NYSE:LYV) Receives $119.46 Average PT from Analysts

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $119.46.

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Bank of America began coverage on 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. Benchmark restated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Finally, Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th.

Live Nation Entertainment Stock Up 0.5 %

Shares of NYSE LYV opened at $108.71 on Monday. The business has a 50-day moving average price of $96.71 and a 200 day moving average price of $96.41. The stock has a market cap of $24.98 billion, a PE ratio of 103.53, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. 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 has a 52-week low of $76.48 and a 52-week high of $109.24.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results 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). The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.02 earnings per share. Equities research analysts forecast that Live Nation Entertainment will post 1.21 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction 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 directly owns 15,128 shares in the company, valued at $1,460,759.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of the stock in a transaction 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 sale, the director now owns 15,128 shares in the company, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after purchasing an additional 29,669 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Live Nation Entertainment by 15.8% during the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock worth $146,567,000 after buying an additional 187,839 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after buying an additional 413,545 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Live Nation Entertainment by 7.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after buying an additional 153,825 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Live Nation Entertainment during the first quarter worth approximately $1,454,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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.