Evercore ISI Raises Live Nation Entertainment (NYSE:LYV) Price Target to $150.00

Live Nation Entertainment (NYSE:LYV) had its price target boosted by Evercore ISI from $110.00 to $150.00 in a research note released on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on LYV. Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Bank of America assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective 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. Oppenheimer raised their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, Benchmark increased their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.77.

Live Nation Entertainment Trading Up 4.7 %

LYV stock opened at $129.67 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76. The company’s 50-day simple moving average is $110.72 and its 200-day simple moving average is $99.96. The firm has a market cap of $29.87 billion, a P/E ratio of 137.95, a PEG ratio of 3.05 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 91.89% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. As a group, equities analysts forecast that Live Nation Entertainment will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 29,669 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Live Nation Entertainment during the 2nd quarter worth about $748,000. CANADA LIFE ASSURANCE Co boosted its holdings in Live Nation Entertainment by 22.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock valued at $10,873,000 after acquiring an additional 18,931 shares during the period. Select Equity Group L.P. increased its stake 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 during the period. Finally, Davidson Kempner Capital Management LP acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $3,985,000. 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.