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

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $160.33.

Several equities analysts have recently issued reports on LYV shares. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Bank of America upped their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Rosenblatt Securities reissued a “buy” rating and issued a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment during the fourth quarter worth $29,000. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter worth about $38,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $40,000. Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV opened at $129.28 on Friday. The company has a 50 day moving average of $134.96 and a two-hundred day moving average of $130.31. The company has a market cap of $30.17 billion, a price-to-earnings ratio of 47.53, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

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.