Live Nation Entertainment (NYSE:LYV – Free Report) had its price target raised by Morgan Stanley from $200.00 to $215.00 in a report published on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.
A number of other equities research analysts also recently issued reports on the company. Roth Capital set a $208.00 price target on Live Nation Entertainment in a research report on Friday, July 31st. Citigroup restated a “market outperform” rating on shares of Live Nation Entertainment in a report on Thursday, October 1st. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, Susquehanna boosted their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.95.
Read Our Latest Research Report on LYV
Live Nation Entertainment Stock Down 0.3%
Shares of NYSE LYV opened at $174.28 on Monday. The stock has a market capitalization of $41.07 billion, a PE ratio of -154.23 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a fifty day moving average of $174.39 and a 200-day moving average of $171.94. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $189.24.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. On average, analysts anticipate that Live Nation Entertainment will post 1.06 EPS for the current year.
Insider Activity at Live Nation Entertainment
In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.89% of the company’s stock.
Institutional Investors Weigh In On Live Nation Entertainment
Hedge funds have recently bought and sold shares of the business. Nissay Asset Management Corp Japan increased its holdings in Live Nation Entertainment by 0.3% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company’s stock worth $3,858,000 after purchasing an additional 66 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Live Nation Entertainment by 7.7% during the 2nd quarter. MCF Advisors LLC now owns 1,188 shares of the company’s stock valued at $218,000 after buying an additional 85 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Live Nation Entertainment by 1.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock valued at $1,041,000 after buying an additional 89 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Live Nation Entertainment by 6.9% during the 3rd quarter. Wedmont Private Capital now owns 1,427 shares of the company’s stock valued at $245,000 after buying an additional 92 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in shares of Live Nation Entertainment by 1.9% during the first quarter. Arkadios Wealth Advisors now owns 5,361 shares of the company’s stock worth $818,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.
The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.
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