Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price target upped by analysts at The Goldman Sachs Group from $132.00 to $148.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 14.54% from the company’s current price.

Several other analysts have also commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Guggenheim lifted their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America started coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target for the company. One investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.43.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $129.21 on Wednesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50 day moving average price of $112.06 and a 200-day moving average price of $100.35. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.76. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of 137.46, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment will post 1.18 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred 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 directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock worth $17,097,016 in the last ninety days. 2.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Select Equity Group L.P. lifted its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC grew its stake in shares of Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after buying an additional 855,197 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 85.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after buying an additional 476,981 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after acquiring an additional 387,008 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.