Live Nation Entertainment, Inc. (NYSE:LYV) Receives $165.24 Average PT from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) has received an average recommendation of "Buy" from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Seventeen equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $165.24.

Several research analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target on the stock. Roth Mkm dropped their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Benchmark restated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Finally, Wolfe Research increased their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th.

Live Nation Entertainment Trading Up 1.8%

Shares of NYSE:LYV traded up $2.70 during mid-day trading on Friday, hitting $153.67. The stock had a trading volume of 2,223,804 shares, compared to its average volume of 2,351,407. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $35.62 billion, a PE ratio of 52.45, a P/E/G ratio of 5.85 and a beta of 1.45. Live Nation Entertainment has a 12-month low of $87.33 and a 12-month high of $157.75. The company's 50 day moving average is $145.45 and its 200-day moving average is $138.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. On average, sell-side analysts predict that Live Nation Entertainment will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president directly owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently made changes to their positions in the company. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at about $30,000. Chilton Capital Management LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $40,000. Finally, GW&K Investment Management LLC increased its position in Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

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.