Live Nation Entertainment (NYSE:LYV) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $173.33 and traded as high as $177.86. Live Nation Entertainment shares last traded at $177.44, with a volume of 2,096,797 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citizens Jmp increased their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Cfra lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $197.95.

Live Nation Entertainment Stock Up 2.9%

The company’s 50 day moving average price is $173.33 and its two-hundred day moving average price is $166.40. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a market cap of $41.81 billion, a PE ratio of -157.03 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business posted $0.41 EPS. Live Nation Entertainment’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.06 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after acquiring an additional 367,624 shares during the last quarter. Bank of America Corp DE bought a new position in Live Nation Entertainment in the 2nd quarter valued at $1,221,398,000. Canada Pension Plan Investment Board bought a new position in Live Nation Entertainment in the 2nd quarter valued at $859,018,000. Bessemer Group Inc. increased its stake in Live Nation Entertainment by 25.8% in the first quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock worth $353,690,000 after purchasing an additional 475,373 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Live Nation Entertainment by 11.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock worth $212,502,000 after purchasing an additional 143,432 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.