Rosenblatt Securities Reaffirms Buy Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $174.00 price objective on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 33.12% from the company’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America increased their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Finally, Roth Mkm upped their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.13.

Live Nation Entertainment Stock Up 4.5 %

Shares of NYSE:LYV opened at $130.71 on Tuesday. The company has a market capitalization of $30.51 billion, a price-to-earnings ratio of 48.06, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. The business has a 50-day moving average price of $138.04 and a 200 day moving average price of $129.07. The company has a current ratio of 1.01, a quick 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. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Sell-side analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 over the last quarter. 2.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LYV. Siemens Fonds Invest GmbH purchased a new position in shares of Live Nation Entertainment during the fourth quarter worth about $832,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Live Nation Entertainment during the 4th quarter worth approximately $8,865,000. Mackenzie Financial Corp increased its position in Live Nation Entertainment by 655.9% during the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock worth $11,761,000 after buying an additional 78,807 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $9,449,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $102,000. 74.52% of the stock is owned by hedge funds and other 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.