Live Nation Entertainment (NYSE:LYV) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report report published on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $125.00 price target on the stock.

Several other equities analysts have also issued reports on LYV. Rosenblatt Securities reiterated a buy rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Redburn Atlantic upgraded shares of Live Nation Entertainment from a neutral rating to a buy rating and upped their price objective for the stock from $114.00 to $115.00 in a research report on Thursday, May 9th. Benchmark restated a buy rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Finally, Oppenheimer reiterated an outperform rating and set a $110.00 price target on shares of Live Nation Entertainment in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $119.46.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $92.78 on Wednesday. Live Nation Entertainment has a 52 week low of $76.48 and a 52 week high of $107.24. The firm’s 50-day simple moving average is $94.73 and its 200 day simple moving average is $95.77. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 88.36, a P/E/G ratio of 2.20 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $1.02 EPS. As a group, sell-side analysts predict that Live Nation Entertainment will post 1.18 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the sale, the director now directly owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold 8,201 shares of company stock valued at $788,464 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock valued at $19,494,000 after acquiring an additional 29,669 shares during the period. Nordea Investment Management AB lifted its position in shares of Live Nation Entertainment by 15.8% during the 1st quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after acquiring an additional 187,839 shares during the period. Public Sector Pension Investment Board lifted its position in shares of Live Nation Entertainment by 2,723.0% during the 4th quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after acquiring an additional 413,545 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Live Nation Entertainment by 7.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after acquiring an additional 153,825 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Live Nation Entertainment during the 1st quarter valued at $1,454,000. 74.52% of the stock is 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.