Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $119.46.

LYV has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer boosted their price objective 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. Rosenblatt Securities restated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Macquarie reiterated an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after purchasing an additional 187,839 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after purchasing an additional 413,545 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Live Nation Entertainment by 7.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock worth $205,144,000 after purchasing an additional 153,825 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $1,454,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $108.71 on Monday. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $96.71 and its 200-day simple moving average is $96.41. The company has a market cap of $24.98 billion, a PE ratio of 103.53, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. Live Nation Entertainment has a 1-year low of $76.48 and a 1-year high of $109.24.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. As a group, equities research analysts anticipate that Live Nation Entertainment will post 1.21 EPS for the current fiscal year.

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.