Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price target lifted by equities research analysts at Citizens Jmp from $190.00 to $215.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's price target suggests a potential upside of 19.91% from the company's current price.
Other analysts also recently issued reports about the company. Susquehanna downgraded Live Nation Entertainment from a "positive" rating to a "neutral" rating and boosted their target price for the stock from $181.00 to $186.00 in a research report on Tuesday. Citigroup restated a "market outperform" rating on shares of Live Nation Entertainment in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Zacks Research downgraded shares of Live Nation Entertainment from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Nineteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and an average price target of $195.00.
Check Out Our Latest Stock Report on LYV
Live Nation Entertainment Price Performance
LYV stock traded up $1.48 on Wednesday, reaching $179.31. 201,526 shares of the company's stock were exchanged, compared to its average volume of 2,777,843. The stock has a fifty day moving average of $173.01 and a 200-day moving average of $160.49. The firm has a market cap of $42.24 billion, a PE ratio of -101.56 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $188.00.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to analyst estimates 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 was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. As a group, equities analysts predict that Live Nation Entertainment will post 0.96 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The stock was 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 $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares of the company's stock, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of LYV. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment during the 4th quarter valued at $26,000. Burkett Financial Services LLC acquired a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment during the 4th quarter worth $30,000. Finally, DV Equities LLC acquired a new stake in Live Nation Entertainment in the 4th quarter valued at $31,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
About Live Nation Entertainment
(
Get Free Report)
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.
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