Live Nation Entertainment, Inc. (NYSE:LYV) Receives $157.27 Average PT from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $157.27.

LYV has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Rosenblatt Securities reissued a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Morgan Stanley upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Roth Mkm upped their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

Live Nation Entertainment Stock Performance

LYV stock opened at $122.93 on Monday. The stock has a market capitalization of $28.69 billion, a PE ratio of 45.20, a price-to-earnings-growth 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 company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock’s 50 day simple moving average is $138.74 and its 200 day simple moving average is $127.71.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last 90 days. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of the stock. Siemens Fonds Invest GmbH purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $832,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $8,865,000. Mackenzie Financial Corp grew its holdings in shares of Live Nation Entertainment by 655.9% during the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock valued at $11,761,000 after buying an additional 78,807 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $9,449,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $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.