Live Nation Entertainment (NYSE:LYV) Given New $146.00 Price Target at Guggenheim

Live Nation Entertainment (NYSE:LYV) had its price objective upped by Guggenheim from $130.00 to $146.00 in a research report report published on Tuesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

LYV has been the subject of a number of other reports. Evercore ISI lifted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday. Oppenheimer upped their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Macquarie boosted their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Live Nation Entertainment Stock Down 0.1 %

Live Nation Entertainment stock opened at $129.00 on Tuesday. Live Nation Entertainment has a fifty-two week low of $81.38 and a fifty-two week high of $130.83. The firm has a market capitalization of $29.97 billion, a PE ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. The company’s 50-day moving average is $112.78 and its 200-day moving average is $100.62. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael Rapino sold 98,849 shares of the company’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 $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 $360,956,212.50. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the transaction, the director now owns 15,128 shares in the company, valued at approximately $1,460,759.68. This represents a 10.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock worth $17,097,016 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LYV. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Live Nation Entertainment by 119.5% during 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 in the last quarter. UMB Bank n.a. grew its holdings in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $41,000. Finally, Family Firm Inc. bought a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $42,000. Institutional investors own 74.52% of the company’s stock.

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.