Benchmark Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price target increased by investment analysts at Benchmark from $132.00 to $144.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 16.27% from the stock’s previous close.

Several other analysts have also weighed in on LYV. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased 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 report on Thursday, October 24th. Oppenheimer upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $125.82.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $123.85 on Tuesday. 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’s fifty day simple moving average is $110.04 and its two-hundred day simple moving average is $99.68. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $127.64. The stock has a market capitalization of $28.53 billion, a P/E ratio of 116.84, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results 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 84.78% and a net margin of 2.20%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. As a group, analysts predict that Live Nation Entertainment will post 1.16 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares of the company’s stock, valued at $1,460,759.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 sale, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the transaction, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Live Nation Entertainment by 67.4% in the 2nd 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 period. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment in the third quarter valued at approximately $41,000. Family Firm Inc. bought a new position in Live Nation Entertainment during the second quarter valued at $42,000. Finally, Cromwell Holdings LLC raised its stake in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares during the period. 74.52% of the stock is currently owned by institutional investors.

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.