Live Nation Entertainment (NYSE:LYV) Given New $145.00 Price Target at TD Cowen

Live Nation Entertainment (NYSE:LYV) had its price objective raised by TD Cowen from $108.00 to $145.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on LYV. Bank of America began 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. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday. Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Trading Down 0.1 %

Shares of Live Nation Entertainment stock opened at $129.00 on Tuesday. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.83. The company’s fifty day simple moving average is $112.78 and its 200-day simple moving average is $100.62. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $29.97 billion, a PE ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, equities analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now directly owns 53,949 shares in the company, valued at $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,500 shares of company stock worth $17,097,016 over the last 90 days. 2.72% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

A number of institutional investors have recently bought and sold shares of LYV. Geode Capital Management LLC boosted its position in shares of Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the period. Prestige Wealth Management Group LLC lifted its stake in shares of Live Nation Entertainment by 24.2% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 2,653 shares of the company’s stock worth $290,000 after acquiring an additional 517 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in Live Nation Entertainment by 11.1% during the 3rd quarter. Resources Management Corp CT ADV now owns 3,498 shares of the company’s stock valued at $383,000 after acquiring an additional 350 shares during the period. M&T Bank Corp increased its stake in Live Nation Entertainment by 2.4% in the 3rd quarter. M&T Bank Corp now owns 6,740 shares of the company’s stock worth $738,000 after buying an additional 159 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Live Nation Entertainment during the third quarter worth approximately $3,142,000. 74.52% of the stock is currently owned by institutional investors.

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.