Live Nation Entertainment (NYSE:LYV) Price Target Raised to $137.00 at JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $118.00 to $137.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.41% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Bank of America assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Benchmark reaffirmed a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Macquarie increased their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Oppenheimer increased their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.23.

Live Nation Entertainment Stock Down 0.8 %

Shares of NYSE LYV opened at $114.73 on Thursday. The stock has a market capitalization of $26.36 billion, a P/E ratio of 109.27, a P/E/G ratio of 2.65 and a beta of 1.35. The company has a 50-day moving average price of $104.04 and a 200-day moving average price of $97.43. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $116.68. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 EPS. On average, equities research analysts forecast that Live Nation Entertainment will post 1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. 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 90 days, insiders sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock valued at $19,494,000 after purchasing an additional 29,669 shares during the last quarter. Nordea Investment Management AB raised its stake in Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock worth $146,567,000 after buying an additional 187,839 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Live Nation Entertainment during the 1st quarter valued at $1,454,000. Frank Rimerman Advisors LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter valued at $748,000. Finally, Guidance Capital Inc. purchased a new stake in shares of Live Nation Entertainment during the 1st quarter worth $910,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.