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

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Guggenheim from $130.00 to $146.00 in a report released on Tuesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

LYV has been the subject of a number of other reports. Evercore ISI lifted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday. Roth Mkm boosted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Macquarie raised their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.77.

Live Nation Entertainment Stock Up 4.7 %

Shares of Live Nation Entertainment stock opened at $129.67 on Tuesday. The company’s fifty day simple moving average is $110.72 and its two-hundred day simple moving average is $99.96. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.76. 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 company 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, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 91.89%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the business posted $1.78 earnings per share. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment will post 1.16 EPS for the current year.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment 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 completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade 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 over the last three months. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently modified their holdings of the business. Select Equity Group L.P. raised its holdings in Live Nation Entertainment by 12.3% in the 2nd 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. D1 Capital Partners L.P. lifted its position in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC grew its stake in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Live Nation Entertainment by 85.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after acquiring an additional 476,981 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Live Nation Entertainment by 34.4% during the first quarter. Bessemer Group Inc. now owns 1,397,185 shares of the company’s stock valued at $147,781,000 after purchasing an additional 357,436 shares in the last quarter. 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.