Macquarie Raises Live Nation Entertainment (NYSE:LYV) Price Target to $130.00

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Macquarie from $125.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on LYV. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley reissued an overweight rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Bank of America assumed coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a buy rating and a $125.00 price target on the stock. Rosenblatt Securities reiterated a buy rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a buy rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $119.85.

Live Nation Entertainment Stock Up 0.1 %

LYV stock opened at $112.69 on Tuesday. The company has a market cap of $25.95 billion, a price-to-earnings ratio of 106.31, a P/E/G ratio of 2.65 and a beta of 1.35. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $113.88. The business has a 50 day moving average price of $99.73 and a two-hundred day moving average price of $96.83. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last issued its 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 analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Analysts anticipate that Live Nation Entertainment will post 1.21 EPS for the current fiscal year.

Insider Activity

In related 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 value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joe Berchtold sold 29,310 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 value of $2,857,725.00. Following the sale, the chief financial officer now owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 177,000 shares of company stock worth $17,238,181. 2.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of the business. Crestmont Private Wealth LLC bought a new position in Live Nation Entertainment in the third quarter valued at about $220,000. Exchange Traded Concepts LLC boosted its stake in shares of Live Nation Entertainment by 2.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,166 shares of the company’s stock valued at $785,000 after purchasing an additional 172 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Live Nation Entertainment by 4.0% during the 3rd quarter. Gateway Investment Advisers LLC now owns 83,233 shares of the company’s stock worth $9,113,000 after purchasing an additional 3,182 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Live Nation Entertainment by 450.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares in the last quarter. Finally, Rockingstone Advisors LLC boosted its position in Live Nation Entertainment by 1.7% in the third quarter. Rockingstone Advisors LLC now owns 7,584 shares of the company’s stock valued at $830,000 after buying an additional 130 shares in the last quarter. 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.