Live Nation Entertainment (NYSE:LYV) Given New $148.00 Price Target at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYV) had its price target upped by investment analysts at The Goldman Sachs Group from $132.00 to $148.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 14.54% from the company’s current price.

A number of other equities analysts have also issued reports on LYV. Oppenheimer raised their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Cowen increased their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday. Guggenheim boosted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.43.

Live Nation Entertainment Stock Up 1.7 %

Shares of NYSE LYV opened at $129.21 on Wednesday. The business has a 50-day moving average of $112.06 and a two-hundred day moving average of $100.35. The company has a market capitalization of $29.76 billion, a price-to-earnings ratio of 137.46, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year 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.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. On average, analysts forecast that Live Nation Entertainment will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ping Fu sold 1,701 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now directly owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. This represents a 10.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last quarter. Company insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of LYV. Vanguard Group Inc. boosted its stake in shares of Live Nation Entertainment by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after acquiring an additional 110,097 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of Live Nation Entertainment by 12.3% during 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 last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after buying an additional 155,920 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the period. Finally, D1 Capital Partners L.P. boosted its position in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the last quarter. Institutional investors and hedge funds 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.