Live Nation Entertainment (NYSE:LYV) Upgraded to Buy at Redburn Atlantic

Live Nation Entertainment (NYSE:LYV) was upgraded by investment analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating in a report issued on Thursday, FinViz reports. The firm currently has a $115.00 price target on the stock, up from their previous price target of $114.00. Redburn Atlantic’s price target would suggest a potential upside of 20.04% from the stock’s current price.

LYV has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday. Rosenblatt Securities upped their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. TD Cowen restated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Finally, Roth Capital upgraded 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 thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $116.83.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $95.80 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $107.24. The firm has a fifty day moving average of $98.76 and a 200-day moving average of $92.04. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 91.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) earnings per share. On average, equities research analysts forecast that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.85% of the stock is currently owned by company insiders.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently modified their holdings of the stock. Czech National Bank raised its holdings in Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after acquiring an additional 115 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock valued at $2,324,000 after purchasing an additional 117 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares during the period. Hohimer Wealth Management LLC lifted its holdings in Live Nation Entertainment by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock worth $956,000 after purchasing an additional 123 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock valued at $1,100,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.