Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by research analysts at Deutsche Bank Aktiengesellschaft from $130.00 to $150.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 9.88% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Bank of America lifted their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. TD Cowen increased their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Roth Mkm increased their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Macquarie lifted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.53.

Live Nation Entertainment Stock Performance

LYV opened at $136.51 on Tuesday. The business has a 50 day moving average price of $115.09 and a two-hundred day moving average price of $101.62. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 145.22, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $136.54.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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 business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Research analysts predict that Live Nation Entertainment will post 1.08 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the third quarter worth $31,000. 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 worth $34,000 after acquiring an additional 202 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $41,000. Morse Asset Management Inc bought a new stake in Live Nation Entertainment in the third quarter valued at about $42,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in Live Nation Entertainment during the third quarter valued at approximately $46,000. 74.52% of the stock is currently owned by institutional investors.

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.