Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, TD Cowen Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price objective raised by research analysts at TD Cowen from $108.00 to $145.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 14.19% from the company’s previous close.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI increased their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Bank of America began coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Roth Mkm upped their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.71.

Live Nation Entertainment Trading Down 2.1 %

Live Nation Entertainment stock opened at $126.98 on Tuesday. The stock has a market cap of $29.25 billion, a PE ratio of 135.09, a P/E/G ratio of 3.15 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The stock has a 50-day moving average price of $111.36 and a 200 day moving average price of $100.15. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76.

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 analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. Equities research analysts predict that Live Nation Entertainment will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joe Berchtold sold 29,310 shares of the business’s 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 $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. 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 the SEC website. In related news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction on Tuesday, August 20th. The shares were 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 $1,460,759.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,000 shares of company stock worth $17,238,181. 2.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of LYV. Vanguard Group Inc. raised its position in shares of Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after purchasing an additional 110,097 shares in the last quarter. Select Equity Group L.P. increased its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after acquiring an additional 87,032 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its holdings in Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other 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.