Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Target Price at $157.27

Live Nation Entertainment, Inc. (NYSE:LYV) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. One equities 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 brokers that have covered the stock in the last year is $157.27.

LYV has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Roth Mkm raised their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Macquarie increased their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction 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 sale, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $832,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $8,865,000. Mackenzie Financial Corp boosted its holdings in Live Nation Entertainment by 655.9% in the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock valued at $11,761,000 after purchasing an additional 78,807 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Live Nation Entertainment in 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 4th quarter worth about $102,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 2.8 %

NYSE:LYV opened at $122.51 on Monday. Live Nation Entertainment has a one year low of $86.81 and a one year high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $28.59 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The business has a fifty day moving average price of $139.01 and a 200-day moving average price of $127.12.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Sell-side analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Live Nation Entertainment Company Profile

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.