Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Free Report) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $119.46.

A number of equities analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Benchmark restated a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th.

Check Out Our Latest Research Report on LYV

Live Nation Entertainment Stock Up 0.5 %

LYV opened at $108.74 on Monday. The firm has a market cap of $24.98 billion, a P/E ratio of 103.56, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50 day moving average price of $96.71 and a 200 day moving average price of $96.32. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $109.24.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. Research analysts forecast that Live Nation Entertainment will post 1.21 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 in the last 90 days. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Several large investors have recently made changes to their positions in the business. Select Equity Group L.P. grew its stake in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. increased its stake in shares of Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares during the period. Vulcan Value Partners LLC lifted its stake in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Live Nation Entertainment by 85.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after acquiring an additional 476,981 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in Live Nation Entertainment during the 4th quarter worth about $44,340,000. Institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

(Get Free Report

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.

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