Live Nation Entertainment (NYSE:LYV) Price Target Raised to $175.00 at Bank of America

Live Nation Entertainment (NYSE:LYV) had its target price raised by Bank of America from $149.00 to $175.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

LYV has been the subject of several other research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Live Nation Entertainment Stock Down 1.8 %

LYV stock opened at $141.86 on Monday. The company’s 50 day moving average is $139.87 and its two-hundred day moving average is $123.69. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $32.96 billion, a P/E ratio of 52.15, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Research analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its position in Live Nation Entertainment by 385.3% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after acquiring an additional 420 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Live Nation Entertainment by 17.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock valued at $316,000 after acquiring an additional 434 shares during the last quarter. Private Advisor Group LLC lifted its position in Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Live Nation Entertainment by 11,822.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,730 shares of the company’s stock worth $1,175,000 after acquiring an additional 10,640 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Live Nation Entertainment by 8.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the company’s stock valued at $964,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other 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.