Live Nation Entertainment (NYSE:LYV) Price Target Raised to $149.00

Live Nation Entertainment (NYSE:LYV) had its price target upped by equities research analysts at Bank of America from $125.00 to $149.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 16.85% from the company’s current price.

A number of other equities research analysts have also weighed in on LYV. Oppenheimer lifted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Macquarie lifted their target price on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Roth Mkm lifted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.43.

Live Nation Entertainment Trading Up 0.4 %

Live Nation Entertainment stock traded up $0.49 during trading hours on Thursday, reaching $127.51. The company had a trading volume of 514,839 shares, compared to its average volume of 2,162,559. The firm has a market cap of $29.37 billion, a price-to-earnings ratio of 135.65, a P/E/G ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.76. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50-day moving average price of $111.36 and a 200 day moving average price of $100.15.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s 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 EPS. Equities analysts forecast that Live Nation Entertainment will post 1.18 earnings per share for the current year.

Insider Activity

In related news, CAO Brian Capo sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 in the last 90 days. 2.72% of the stock is currently owned by insiders.

Institutional Trading of Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Select Equity Group L.P. increased its position in Live Nation Entertainment by 12.3% in 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 last quarter. D1 Capital Partners L.P. raised 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 lifted its holdings in shares of Live Nation Entertainment by 46.5% in 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 last quarter. Massachusetts Financial Services Co. MA grew its position in Live Nation Entertainment by 85.0% in the second 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Live Nation Entertainment by 55.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares during 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.