Live Nation Entertainment, Inc. (NYSE:LYV) Receives $120.77 Average Price Target from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $120.77.

Several research firms have recently weighed in on LYV. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Oppenheimer raised their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th.

Live Nation Entertainment Stock Up 0.6 %

Live Nation Entertainment stock opened at $115.68 on Friday. Live Nation Entertainment has a 52 week low of $76.48 and a 52 week high of $116.57. 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 company’s 50-day moving average price is $103.14 and its two-hundred day moving average price is $97.22. The stock has a market cap of $26.58 billion, a price-to-earnings ratio of 110.17, a PEG ratio of 2.65 and a beta of 1.35.

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

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of LYV. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. D1 Capital Partners L.P. grew its stake in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the last quarter. Vulcan Value Partners LLC grew its stake in shares of Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after acquiring an additional 855,197 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Live Nation Entertainment by 85.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after acquiring an additional 476,981 shares during the last quarter. Finally, Cantillon Capital Management LLC grew its stake in shares of Live Nation Entertainment by 16.7% in the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after acquiring an additional 458,893 shares during the last quarter. Institutional investors 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.