Rosenblatt Securities Reiterates “Buy” Rating for Live Nation Entertainment (NYSE:LYV)

Rosenblatt Securities reiterated their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a report issued on Tuesday,Benzinga reports. They currently have a $174.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on LYV. Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Guggenheim increased their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note 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 report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Benchmark reissued a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Live Nation Entertainment Price Performance

LYV stock opened at $131.94 on Tuesday. The company’s 50-day moving average price is $137.90 and its two-hundred day moving average price is $129.30. Live Nation Entertainment has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market cap of $30.79 billion, a P/E ratio of 48.51, a P/E/G ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. On average, analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This 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 accessible through this link. Also, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment acquired a new position in Live Nation Entertainment during the fourth quarter worth $259,000,000. Norges Bank bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at $255,955,000. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment during the third quarter valued at about $111,094,000. Finally, PointState Capital LP bought a new stake in shares of Live Nation Entertainment during the third quarter worth about $102,762,000. 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.