Berenberg Bank started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report report published on Tuesday morning, Benzinga reports. The brokerage issued a buy rating and a $73.00 target price on the stock.
Other analysts have also issued research reports about the stock. ValuEngine lowered shares of Live Nation Entertainment from a strong-buy rating to a buy rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Live Nation Entertainment from a hold rating to a buy rating and set a $60.00 target price for the company in a report on Tuesday, January 29th. Citigroup lowered shares of Live Nation Entertainment from a buy rating to a neutral rating and lifted their target price for the stock from $59.00 to $63.00 in a report on Friday, March 15th. They noted that the move was a valuation call. Finally, Stephens lifted their target price on shares of Live Nation Entertainment to $70.00 and gave the stock an overweight rating in a report on Friday, March 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment has an average rating of Buy and a consensus price target of $62.00.
LYV opened at $63.63 on Tuesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94. Live Nation Entertainment has a 52 week low of $42.61 and a 52 week high of $67.00. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of -707.00 and a beta of 1.14.
In other news, Director Ariel Emanuel sold 7,790 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $64.25, for a total value of $500,507.50. Following the completion of the transaction, the director now owns 71,394 shares of the company’s stock, valued at approximately $4,587,064.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.19% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in LYV. Scout Investments Inc. lifted its position in Live Nation Entertainment by 179.1% in the 1st quarter. Scout Investments Inc. now owns 218,435 shares of the company’s stock valued at $13,879,000 after acquiring an additional 140,170 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Live Nation Entertainment in the 4th quarter valued at $217,000. Bank of Montreal Can lifted its position in Live Nation Entertainment by 137.7% in the 4th quarter. Bank of Montreal Can now owns 99,553 shares of the company’s stock valued at $4,904,000 after acquiring an additional 57,678 shares in the last quarter. Mizuho Securities USA LLC bought a new stake in Live Nation Entertainment in the 4th quarter valued at $685,000. Finally, Exane Derivatives bought a new stake in Live Nation Entertainment in the 4th quarter valued at $32,000. 69.97% of the stock is owned by institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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