Live Nation Entertainment, Inc. (NYSE:LYV – Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $141.24 and last traded at $141.24, with a volume of 1477 shares changing hands. The stock had previously closed at $140.29.
Wall Street Analyst Weigh In
LYV has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Citigroup boosted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, TD Cowen raised their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a 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 company. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $141.53.
Check Out Our Latest Report on Live Nation Entertainment
Live Nation Entertainment Price Performance
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.
Insider Buying and Selling at Live Nation Entertainment
In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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
A number of hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Live Nation Entertainment in the third quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment in the third quarter valued at about $41,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment in the third quarter worth $42,000. Finally, SOA Wealth Advisors LLC. bought a new position in Live Nation Entertainment during 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.
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