Live Nation Entertainment (NYSE:LYV) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Live Nation Entertainment (NYSE:LYV) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Oppenheimer lifted their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $140.26 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $140.29. The firm has a fifty day moving average of $116.74 and a 200-day moving average of $102.18. The firm has a market capitalization of $32.59 billion, a price-to-earnings ratio of 149.21, a price-to-earnings-growth ratio of 3.59 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment will post 1.08 earnings per share for the current year.

Insider Activity

In related news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred 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 approximately $16,349,525.08. The trade was a 17.29 % decrease in their position. The transaction was disclosed in a legal 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 firm’s stock in a transaction on Monday, September 9th. The shares were 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 of the company’s stock, valued at $5,134,865.82. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the third quarter worth approximately $41,000. Morse Asset Management Inc acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $42,000. Finally, SOA Wealth Advisors LLC. bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $46,000. 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.