Live Nation Entertainment (NYSE:LYV) Price Target Raised to $190.00

by · The Cerbat Gem

Live Nation Entertainment (NYSE:LYV – Free Report) had its price objective hoisted by The Goldman Sachs Group from $175.00 to $190.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

LYV has been the subject of a number of other reports. UBS Group raised their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Finally, Bank of America raised their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $184.40.

View Our Latest Analysis on Live Nation Entertainment

Live Nation Entertainment Stock Performance

NYSE LYV opened at $154.14 on Thursday. The firm has a market cap of $36.19 billion, a P/E ratio of -642.25 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The company’s 50 day moving average is $151.35 and its 200-day moving average is $150.30. Live Nation Entertainment has a 12-month low of $113.20 and a 12-month high of $175.25.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the business posted $0.58 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Axxcess Wealth Management LLC increased its position in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after purchasing an additional 75 shares during the last quarter. Vident Advisory LLC lifted its position in Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. grew its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after buying an additional 80 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Live Nation Entertainment by 24.4% in the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after buying an additional 82 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

(Get Free Report)

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.

Featured Stories