Live Nation Entertainment (NYSE:LYV) Price Target Raised to $146.00 at Guggenheim

Live Nation Entertainment (NYSE:LYV) had its price objective upped by research analysts at Guggenheim from $130.00 to $146.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 12.97% from the stock’s current price.

LYV has been the topic of a number of other reports. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Benchmark increased their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Finally, Macquarie raised their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.77.

Live Nation Entertainment Stock Up 4.4 %

Shares of NYSE LYV traded up $5.44 during mid-day trading on Tuesday, hitting $129.24. The company had a trading volume of 3,175,822 shares, compared to its average volume of 2,143,176. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.76. The company has a market capitalization of $29.77 billion, a PE ratio of 121.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50-day simple moving average is $110.04 and its 200 day simple moving average is $99.68.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the business posted $1.78 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, analysts predict that Live Nation Entertainment will post 1.16 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 in the last quarter. Company insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Live Nation Entertainment by 19.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after buying an additional 29,669 shares during the period. Frank Rimerman Advisors LLC purchased a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $748,000. CANADA LIFE ASSURANCE Co raised its holdings in Live Nation Entertainment by 22.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock worth $10,873,000 after purchasing an additional 18,931 shares during the last quarter. Select Equity Group L.P. boosted its position in Live Nation Entertainment by 12.3% during 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 purchasing an additional 1,415,173 shares in the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Live Nation Entertainment during the 2nd quarter worth $3,985,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.