Live Nation Entertainment (NYSE:LYV) Earns “Buy” Rating from TD Cowen

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reissued by research analysts at TD Cowen in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $108.00 price target on the stock. TD Cowen’s target price points to a potential upside of 17.62% from the stock’s previous close.

Several other brokerages have also weighed in on LYV. Morgan Stanley upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Roth Mkm raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $114.00 in a research report on Friday, January 12th. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $91.82 on Tuesday. The company has a market capitalization of $21.19 billion, a PE ratio of 69.04 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The company’s 50 day moving average price is $98.97 and its 200 day moving average price is $91.36. Live Nation Entertainment has a 52 week low of $64.96 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Research analysts expect that Live Nation Entertainment will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.85% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock worth $1,823,315,000 after purchasing an additional 317,335 shares during the period. Select Equity Group L.P. increased its stake in Live Nation Entertainment by 8.1% during the first quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock valued at $805,849,000 after acquiring an additional 862,050 shares during the period. Canada Pension Plan Investment Board raised its holdings in Live Nation Entertainment by 5.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after acquiring an additional 429,650 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock worth $590,301,000 after acquiring an additional 33,215 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Live Nation Entertainment by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock worth $460,733,000 after purchasing an additional 323,756 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.