Live Nation Entertainment (NYSE:LYV) Given New $146.00 Price Target at Macquarie

Live Nation Entertainment (NYSE:LYV) had its price objective raised by Macquarie from $130.00 to $146.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

LYV has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. TD Cowen increased their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Guggenheim increased their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com cut shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Trading Down 0.1 %

Shares of NYSE:LYV opened at $129.00 on Friday. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $130.83. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The business’s 50 day moving average price is $112.78 and its 200-day moving average price is $100.78. The firm has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a price-to-earnings-growth ratio of 3.49 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. On average, equities research analysts forecast that Live Nation Entertainment will post 1.08 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ping Fu sold 1,701 shares of the business’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 170,500 shares of company stock valued at $16,613,966. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in LYV. 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 valued at $19,494,000 after purchasing an additional 29,669 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the second quarter worth $748,000. CANADA LIFE ASSURANCE Co increased its holdings in Live Nation Entertainment by 22.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock worth $10,873,000 after buying an additional 18,931 shares during the last quarter. Select Equity Group L.P. boosted its holdings in Live Nation Entertainment by 12.3% in the second 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 in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in Live Nation Entertainment during the second quarter worth approximately $3,985,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.