Live Nation Entertainment (NYSE:LYV) Price Target Raised to $132.00

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by Roth Mkm from $120.00 to $132.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently commented on the stock. Bank of America initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. 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. Oppenheimer raised their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.77.

Live Nation Entertainment Stock Down 0.2 %

Live Nation Entertainment stock opened at $114.94 on Wednesday. The firm has a market capitalization of $26.41 billion, a P/E ratio of 109.47, a P/E/G ratio of 2.65 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $116.57. The stock’s fifty day simple moving average is $102.67 and its 200-day simple moving average is $97.23.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly 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). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the business earned $1.02 EPS. Live Nation Entertainment’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts expect that Live Nation Entertainment will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 approximately $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Brian Capo sold 5,000 shares of the company’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 transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction on Friday, August 16th. The shares were 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 in the company, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,000 shares of company stock valued at $17,238,181. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Live Nation Entertainment by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 570,350 shares of the company’s stock valued at $62,448,000 after buying an additional 82,844 shares during the period. Blue Trust Inc. raised its position in Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after acquiring an additional 420 shares in the last quarter. Net Worth Advisory Group acquired a new stake in Live Nation Entertainment in the third quarter valued at $220,000. V Square Quantitative Management LLC boosted its position in shares of Live Nation Entertainment by 16.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,992 shares of the company’s stock worth $547,000 after purchasing an additional 687 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,848 shares of the company’s stock worth $1,845,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds 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.