Bank of America Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $149.00

Live Nation Entertainment (NYSE:LYV) had its price target lifted by Bank of America from $125.00 to $149.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

LYV has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Macquarie upped their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Benchmark increased their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $137.43.

Live Nation Entertainment Trading Down 0.5 %

Shares of LYV traded down $0.71 during trading hours on Thursday, reaching $128.48. 1,786,114 shares of the company traded hands, compared to its average volume of 2,172,150. The stock’s fifty day moving average price is $112.06 and its 200 day moving average price is $100.35. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The firm has a market cap of $29.85 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.83.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts forecast 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 on 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 completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The trade was a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock valued at $17,097,016 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several institutional investors have recently made changes to their positions in LYV. Select Equity Group L.P. boosted its stake in Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the period. D1 Capital Partners L.P. boosted its position in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares during the period. PointState Capital LP purchased a new stake in Live Nation Entertainment in the third quarter valued at approximately $102,762,000. Vulcan Value Partners LLC lifted its stake in Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after purchasing an additional 855,197 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Live Nation Entertainment by 85.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after buying an additional 476,981 shares during the period. Hedge funds and other institutional investors 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.