Live Nation Entertainment (NYSE:LYV) Stock Rating Reaffirmed as Buy by BTIG Research

Key Points

• BTIG Research reaffirmed a Buy rating on Live Nation Entertainment, with a $215 price target implying approximately 25% upside from the prior close.
• Live Nation shares rose 0.7% to $171.71, while the company’s latest quarterly results surpassed expectations: adjusted EPS was $1.05 versus $0.66 estimated, and revenue increased 9.4% year over year to $7.67 billion.
• Analyst sentiment remains broadly positive, with 20 Buy ratings, three Holds and one Sell; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $198.14.

Live Nation Entertainment (NYSE:LYV - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at BTIG Research in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $215.00 target price on the stock. BTIG Research's price target would suggest a potential upside of 25.21% from the stock's previous close.

LYV has been the subject of several other research reports. Zacks Research raised Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. TD Cowen reissued a "buy" rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. UBS Group lifted their target price on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, Citizens Jmp lifted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 22nd. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average target price of $198.14.

Live Nation Entertainment Stock Up 0.7%

Shares of LYV traded up $1.20 during mid-day trading on Monday, reaching $171.71. The company's stock had a trading volume of 545,243 shares, compared to its average volume of 2,522,888. The business has a fifty day moving average of $175.05 and a 200 day moving average of $171.52. The company has a market cap of $40.46 billion, a price-to-earnings ratio of -151.95 and a beta of 1.17. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year high of $189.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that Live Nation Entertainment will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company's stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.89% of the company's stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in LYV. Nissay Asset Management Corp Japan raised its position in Live Nation Entertainment by 0.3% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company's stock worth $3,858,000 after purchasing an additional 66 shares during the last quarter. MCF Advisors LLC raised its position in shares of Live Nation Entertainment by 7.7% during the 2nd quarter. MCF Advisors LLC now owns 1,188 shares of the company's stock valued at $218,000 after acquiring an additional 85 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Live Nation Entertainment by 1.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company's stock valued at $1,041,000 after acquiring an additional 89 shares during the last quarter. Wedmont Private Capital raised its position in shares of Live Nation Entertainment by 6.9% during the 3rd quarter. Wedmont Private Capital now owns 1,427 shares of the company's stock valued at $245,000 after acquiring an additional 92 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Live Nation Entertainment by 1.9% during the 1st quarter. Arkadios Wealth Advisors now owns 5,361 shares of the company's stock valued at $818,000 after acquiring an additional 98 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

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.