Live Nation Entertainment, Inc. (NYSE:LYV) Receives $187.75 Consensus Target Price from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given an average rating of “Moderate Buy” by the twenty-three analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $188.50.

A number of brokerages have recently issued reports on LYV. Roth Mkm reaffirmed a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th.

Insider Buying and Selling

In other news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. lifted its holdings in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after buying an additional 20,165 shares during the last quarter. Profund Advisors LLC increased its position in Live Nation Entertainment by 51.1% during the 3rd quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock valued at $1,820,000 after buying an additional 3,767 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Live Nation Entertainment by 8.5% during the third quarter. Envestnet Asset Management Inc. now owns 334,934 shares of the company’s stock valued at $54,728,000 after buying an additional 26,116 shares during the last quarter. Finally, L2 Asset Management LLC boosted its holdings in Live Nation Entertainment by 70.4% in the third quarter. L2 Asset Management LLC now owns 35,019 shares of the company’s stock worth $5,722,000 after acquiring an additional 14,470 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.2%

Shares of LYV traded down $0.43 during mid-day trading on Wednesday, reaching $173.67. The company’s stock had a trading volume of 102,535 shares, compared to its average volume of 2,825,906. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $176.00. The stock has a market cap of $40.91 billion, a PE ratio of -98.04 and a beta of 1.12. The company’s fifty day moving average price is $163.32 and its two-hundred day moving average price is $153.55. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) EPS. On average, analysts predict that Live Nation Entertainment will post 1.09 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.