Analysts Set Live Nation Entertainment, Inc. (NYSE:LYV) Target Price at $120.77

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $120.77.

Several brokerages recently commented on LYV. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Bank of America began coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Oppenheimer upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, Macquarie upped their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock valued at $17,238,181 over the last ninety days. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. grew its holdings in shares of Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after acquiring an additional 95 shares in the last quarter. Mystic Asset Management Inc. grew its holdings in Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares during the period. Czech National Bank grew its holdings in Live Nation Entertainment by 0.5% during the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after purchasing an additional 115 shares during the period. Meiji Yasuda Life Insurance Co grew its holdings in Live Nation Entertainment by 3.2% during the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after purchasing an additional 120 shares during the period. Finally, Baker Tilly Wealth Management LLC grew its holdings in Live Nation Entertainment by 5.4% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after purchasing an additional 130 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Down 0.2 %

NYSE LYV opened at $114.94 on Friday. The business’s 50-day moving average price is $102.67 and its two-hundred day moving average price is $97.18. Live Nation Entertainment has a 12 month low of $76.48 and a 12 month high of $116.57. The firm has a market capitalization of $26.41 billion, a PE ratio of 109.47, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the company earned $1.02 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that Live Nation Entertainment will post 1.21 EPS for the current 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.