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

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $160.33.

LYV has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America increased their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Benchmark reiterated a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st.

Live Nation Entertainment Stock Up 0.4 %

LYV opened at $128.88 on Friday. Live Nation Entertainment has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The firm has a market capitalization of $30.08 billion, a P/E ratio of 47.38, a PEG ratio of 1.81 and a beta of 1.31. The company’s 50-day moving average is $133.75 and its 200 day moving average is $130.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping 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 net margin of 3.90% and a return on equity of 139.09%. Research analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last three months. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of LYV. Amundi lifted its holdings in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after acquiring an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after purchasing an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth about $226,000. Aviva PLC increased its position in shares of Live Nation Entertainment by 1,524.1% during the 4th quarter. Aviva PLC now owns 97,057 shares of the company’s stock valued at $12,569,000 after purchasing an additional 91,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after buying an additional 48,949 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.