Live Nation Entertainment (NYSE:LYV) Stock Price Up 2.7% – What’s Next?

Live Nation Entertainment, Inc. (NYSE:LYV) shares traded up 2.7% on Monday . The company traded as high as $128.02 and last traded at $128.44. 840,871 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 2,195,854 shares. The stock had previously closed at $125.03.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYV. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Macquarie lifted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Stock Performance

The firm has a 50-day moving average price of $138.14 and a 200 day moving average price of $128.84. The firm has a market capitalization of $30.49 billion, a PE ratio of 48.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 over the last 90 days. 2.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its holdings in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock worth $1,120,177,000 after acquiring an additional 44,703 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after purchasing an additional 105,648 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after buying an additional 108,293 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its stake in shares of Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock valued at $415,447,000 after buying an additional 777,105 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.