Live Nation Entertainment (NYSE:LYV) Given New $148.00 Price Target at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by The Goldman Sachs Group from $132.00 to $148.00 in a research report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts have also commented on LYV. JPMorgan Chase & Co. lifted 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 note on Thursday, October 24th. StockNews.com cut shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Bank of America started coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Macquarie boosted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Live Nation Entertainment Stock Down 0.1 %

Shares of NYSE LYV opened at $129.00 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.83. The firm’s 50-day moving average price is $112.78 and its 200-day moving average price is $100.70. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a P/E/G ratio of 3.27 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The stock was 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 approximately $360,956,212.50. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 175,500 shares of company stock valued at $17,097,016. 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 added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. UMB Bank n.a. grew its holdings 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 purchasing an additional 176 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the third quarter worth $41,000. Finally, Family Firm Inc. acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $42,000. 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.