Live Nation Entertainment (NYSE:LYV) Reaches New 12-Month High at $73.91

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $73.91 and last traded at $64.31, with a volume of 183289 shares. The stock had previously closed at $69.43.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group set a $84.00 price target on Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, October 25th. Evercore ISI upgraded Live Nation Entertainment from an “in-line” rating to an “outperform” rating in a research note on Monday, November 11th. William Blair restated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, November 18th. Finally, Morgan Stanley assumed coverage on Live Nation Entertainment in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $75.00.

The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of -714.89 and a beta of 1.17. The firm’s 50 day moving average price is $67.56 and its two-hundred day moving average price is $68.02. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.49.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, October 31st. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). Live Nation Entertainment had a net margin of 0.61% and a return on equity of 4.96%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 0.1 EPS for the current year.

In other Live Nation Entertainment news, Director James S. Kahan acquired 4,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was bought at an average cost of $61.54 per share, with a total value of $276,930.00. Following the completion of the transaction, the director now directly owns 82,821 shares in the company, valued at approximately $5,096,804.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.82% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,451,018 shares of the company’s stock valued at $824,880,000 after purchasing an additional 254,042 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 23.6% in the third quarter. Select Equity Group L.P. now owns 7,893,108 shares of the company’s stock valued at $523,629,000 after purchasing an additional 1,505,686 shares during the period. Findlay Park Partners LLP raised its position in shares of Live Nation Entertainment by 19.7% in the third quarter. Findlay Park Partners LLP now owns 6,537,000 shares of the company’s stock valued at $433,665,000 after purchasing an additional 1,075,000 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,924,225 shares of the company’s stock worth $127,480,000 after buying an additional 39,992 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Live Nation Entertainment by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,914,072 shares of the company’s stock worth $126,807,000 after buying an additional 25,792 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

Live Nation Entertainment Company Profile (NYSE:LYV)

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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