Benchmark Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Benchmark from $132.00 to $144.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on LYV. Roth Mkm raised their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Macquarie increased their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Bank of America assumed coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Price Performance

LYV opened at $129.00 on Tuesday. Live Nation Entertainment has a twelve month low of $81.38 and a twelve month high of $130.83. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The firm has a market cap of $29.97 billion, a price-to-earnings ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. The company has a fifty day simple moving average of $112.78 and a 200 day simple moving average of $100.62.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts expect that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This represents a 28.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of the firm’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 transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,500 shares of company stock worth $17,097,016. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prestige Wealth Management Group LLC lifted its stake in shares of Live Nation Entertainment by 24.2% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 2,653 shares of the company’s stock worth $290,000 after acquiring an additional 517 shares during the period. Resources Management Corp CT ADV lifted its position in Live Nation Entertainment by 11.1% in the third quarter. Resources Management Corp CT ADV now owns 3,498 shares of the company’s stock worth $383,000 after purchasing an additional 350 shares during the period. M&T Bank Corp boosted its stake in Live Nation Entertainment by 2.4% during the 3rd quarter. M&T Bank Corp now owns 6,740 shares of the company’s stock valued at $738,000 after purchasing an additional 159 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $3,142,000. Finally, ValueAct Holdings L.P. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth $111,094,000. 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.