Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Target Price at $124.73

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $138.57.

A number of equities research analysts have recently issued reports on LYV shares. Evercore ISI boosted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Benchmark upped their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. This trade represents a 28.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the sale, the director now owns 15,128 shares of the company’s stock, valued at $1,460,759.68. The trade was a 10.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last 90 days. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after buying an additional 110,097 shares during the last quarter. Select Equity Group L.P. boosted its position in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after acquiring an additional 155,920 shares during the last quarter. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares during the period. Finally, Geode Capital Management LLC raised its stake in Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $129.00 on Tuesday. The stock’s 50 day moving average price is $112.78 and its 200 day moving average price is $100.70. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market cap of $29.97 billion, a price-to-earnings ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.83.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the previous year, the business earned $1.78 earnings per share. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current fiscal year.

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.