Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Bank of America Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price target lifted by equities research analysts at Bank of America from $125.00 to $149.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 16.85% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Guggenheim upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer raised their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, TD Cowen upped their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.43.

Live Nation Entertainment Trading Up 0.4 %

LYV traded up $0.49 during trading on Thursday, reaching $127.51. 514,839 shares of the stock traded hands, compared to its average volume of 2,162,559. The stock’s 50-day moving average is $111.36 and its 200 day moving average is $100.15. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.76. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $29.37 billion, a PE ratio of 135.65, a P/E/G ratio of 3.15 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the previous year, the company earned $1.78 EPS. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts anticipate that Live Nation Entertainment will post 1.18 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,000 shares of company stock worth $17,238,181. 2.72% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the third quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. boosted its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares in the last quarter. Reston Wealth Management LLC bought a new position in Live Nation Entertainment during the third quarter valued at approximately $41,000. Finally, Family Firm Inc. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.