Live Nation Entertainment (NYSE:LYV) Price Target Raised to $146.00 at Macquarie

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Macquarie from $130.00 to $146.00 in a research note released on Friday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on LYV. TD Cowen increased their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Oppenheimer increased their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, StockNews.com cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Price Performance

LYV opened at $132.60 on Friday. The stock’s 50 day simple moving average is $113.54 and its 200 day simple moving average is $101.09. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $132.74. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 141.06, a PEG ratio of 3.49 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the company earned $1.78 EPS. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, analysts predict that Live Nation Entertainment will post 1.08 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after purchasing an additional 110,097 shares in the last quarter. Select Equity Group L.P. increased its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after purchasing an additional 155,920 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after acquiring an additional 321,832 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.