Live Nation Entertainment (NYSE:LYV) Reaches New 1-Year High – Time to Buy?

Live Nation Entertainment, Inc. (NYSE:LYV) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $116.53 and last traded at $116.09, with a volume of 282669 shares. The stock had previously closed at $115.84.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LYV. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Macquarie lifted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.85.

Live Nation Entertainment Stock Performance

The stock’s 50 day moving average price is $100.76 and its two-hundred day moving average price is $96.84. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market capitalization of $26.48 billion, a price-to-earnings ratio of 110.06, a PEG ratio of 2.65 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. 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 the SEC website. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment 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 transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. lifted its holdings in Live Nation Entertainment by 3.6% in the 4th quarter. American International Group Inc. now owns 39,330 shares of the company’s stock valued at $3,681,000 after purchasing an additional 1,373 shares in the last quarter. GAMMA Investing LLC boosted its position in Live Nation Entertainment by 22.5% during the first quarter. GAMMA Investing LLC now owns 2,107 shares of the company’s stock worth $223,000 after acquiring an additional 387 shares during the last quarter. Mather Group LLC. purchased a new stake in Live Nation Entertainment in the 1st quarter worth approximately $165,000. Rise Advisors LLC raised its holdings in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares during the last quarter. Finally, Fulton Bank N.A. lifted its stake in shares of Live Nation Entertainment by 8.2% during the 1st quarter. Fulton Bank N.A. now owns 5,634 shares of the company’s stock worth $596,000 after purchasing an additional 426 shares during the period. 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.