Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $119.46.

Several equities analysts have commented on LYV shares. Bank of America started coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Benchmark reissued a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Macquarie reaffirmed an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Oppenheimer boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th.

Live Nation Entertainment Stock Performance

LYV opened at $108.74 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The business’s 50 day moving average is $96.71 and its 200-day moving average is $96.32. The stock has a market cap of $24.98 billion, a PE ratio of 103.56, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $109.24.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 EPS. On average, analysts predict that Live Nation Entertainment will post 1.21 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,000 shares of company stock valued at $17,238,181. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. YHB Investment Advisors Inc. purchased a new stake in shares of Live Nation Entertainment during the first quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Rise Advisors LLC grew its stake in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares in the last quarter. Lindbrook Capital LLC raised its position in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after acquiring an additional 119 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors 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.