Live Nation Entertainment, Inc. (NYSE:LYV) Stock Has Consensus Target Price of $197.19 According to Brokerages

Key Points

• Analysts maintain a Moderate Buy consensus on Live Nation, with 20 buy ratings, three holds and one sell among 24 analysts. The average 12-month price target is $197.19, above the stock’s reported $169.67 price.
• Live Nation’s latest quarterly results exceeded expectations, with adjusted EPS of $1.05 versus the $0.66 consensus and revenue of $7.67 billion, up 9.4% year over year.
• Institutional investors own 74.52% of the company, while insider ownership is 2.89%; chief accounting officer Brian Capo recently sold 2,900 shares for approximately $533,600.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-four analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twenty have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $197.19.

A number of equities analysts have recently weighed in on LYV shares. Zacks Research raised shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. The Goldman Sachs Group lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Citigroup restated a "market outperform" rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Finally, Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research report on Tuesday, July 28th.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Wedmont Private Capital raised its position in Live Nation Entertainment by 6.9% during the third quarter. Wedmont Private Capital now owns 1,427 shares of the company's stock valued at $245,000 after acquiring an additional 92 shares in the last quarter. Diversified Management Inc. bought a new stake in Live Nation Entertainment in the third quarter worth approximately $202,000. GAMMA Investing LLC grew its position in Live Nation Entertainment by 13.0% in the third quarter. GAMMA Investing LLC now owns 9,440 shares of the company's stock worth $1,598,000 after acquiring an additional 1,083 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Live Nation Entertainment by 35.0% during the 3rd quarter. CoreCap Advisors LLC now owns 852 shares of the company's stock worth $144,000 after purchasing an additional 221 shares during the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Live Nation Entertainment by 16.6% during the 3rd quarter. Artemis Investment Management LLP now owns 59,818 shares of the company's stock valued at $10,127,000 after purchasing an additional 8,537 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.4%

Live Nation Entertainment stock opened at $169.67 on Tuesday. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $39.98 billion, a PE ratio of -150.15 and a beta of 1.17. The firm's 50 day moving average price is $176.00 and its two-hundred day moving average price is $170.93.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued 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 net margin of 0.34% and a return on equity of 54.61%. The company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business posted $0.41 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts predict that Live Nation Entertainment will post 1.12 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that promotes concerts and other live events, operates entertainment venues, and provides ticketing services. Its activities span the live event ecosystem, from artist and event promotion to ticket sales, venue management, sponsorship, and advertising.

The company's business includes Live Nation Concerts, which produces and promotes tours, festivals, and other events; Ticketmaster, a ticketing platform serving venues, event organizers, and fans; and a portfolio of owned, operated, or managed venues.

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