Live Nation Entertainment, Inc. (NYSE:LYV) Now Covered by Analysts at William Blair
William Blair started coverage on shares of Live Nation Entertainment, Inc. (NYSE:LYV) in a note issued to investors on Friday, MarketBeat reports. The firm set an “outperform” rating on the stock.
Several other research analysts also recently commented on LYV. BidaskClub upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of Live Nation Entertainment in a report on Monday, April 24th. Macquarie reiterated an “outperform” rating and issued a $38.00 price objective on shares of Live Nation Entertainment in a report on Sunday, May 14th. Guggenheim assumed coverage on Live Nation Entertainment in a report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $39.00 price objective (up previously from $32.00) on shares of Live Nation Entertainment in a report on Friday, May 19th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.00.
Shares of Live Nation Entertainment (NYSE LYV) opened at 36.66 on Friday. The stock has a 50 day moving average price of $35.21 and a 200 day moving average price of $31.47. The firm’s market cap is $7.50 billion. Live Nation Entertainment has a 52 week low of $25.21 and a 52 week high of $36.75.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, May 4th. The company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.27 billion. Live Nation Entertainment had a negative return on equity of 0.16% and a negative net margin of 0.03%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts expect that Live Nation Entertainment will post $0.14 earnings per share for the current year.
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In related news, Director Robert Ted Enloe III sold 6,337 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the transaction, the director now owns 23,450 shares in the company, valued at approximately $839,979. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James S. Kahan sold 10,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $34.01, for a total value of $340,100.00. Following the transaction, the director now owns 82,605 shares in the company, valued at approximately $2,809,396.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,337 shares of company stock worth $1,264,291. 4.77% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Agricole S A acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth about $115,000. PICTET BANK & TRUST Ltd acquired a new position in shares of Live Nation Entertainment during the first quarter worth about $225,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Live Nation Entertainment during the first quarter worth about $233,000. KBC Group NV acquired a new position in shares of Live Nation Entertainment during the first quarter worth about $238,000. Finally, World Asset Management Inc increased its position in shares of Live Nation Entertainment by 9.7% in the first quarter. World Asset Management Inc now owns 8,844 shares of the company’s stock worth $269,000 after buying an additional 783 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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