Live Nation Entertainment (NYSE:LYV – Free Report) had its price objective increased by Citizens Jmp from $190.00 to $215.00 in a report released on Wednesday,Benzinga reports. They currently have a market outperform rating on the stock.
LYV has been the topic of a number of other reports. The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Guggenheim increased their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Rothschild & Co Redburn increased their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Twenty investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.95.
Check Out Our Latest Report on LYV
Live Nation Entertainment Stock Up 0.7%
Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) EPS. Analysts forecast that Live Nation Entertainment will post 0.94 earnings per share for the current year.
Insider Activity
In related news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Live Nation Entertainment
Several institutional investors and hedge funds have recently made changes to their positions in the company. Burkett Financial Services LLC bought a new position in Live Nation Entertainment during the 2nd quarter worth $26,000. Leonteq Securities AG bought a new stake in Live Nation Entertainment in the 4th quarter valued at about $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in Live Nation Entertainment during the 4th quarter worth $30,000. Finally, DV Equities LLC acquired a new position in Live Nation Entertainment in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 74.52% of the company’s stock.
About Live Nation Entertainment
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.
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