Live Nation Entertainment (NYSE:LYV) Given New $168.00 Price Target at Wolfe Research

Live Nation Entertainment (NYSE:LYV - Free Report) had its price target upped by Wolfe Research from $160.00 to $168.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the company. Rosenblatt Securities lowered their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Roth Mkm lowered their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Macquarie increased their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Susquehanna initiated coverage on Live Nation Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $155.00 price target for the company. Finally, Morgan Stanley increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average price target of $164.35.

Live Nation Entertainment Trading Up 0.2%

Shares of LYV stock traded up $0.22 during trading hours on Tuesday, reaching $143.70. 1,530,260 shares of the stock traded hands, compared to its average volume of 2,321,038. The business has a fifty day moving average price of $134.98 and a 200 day moving average price of $135.72. Live Nation Entertainment has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $33.31 billion, a PE ratio of 52.83, a PEG ratio of 1.81 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Live Nation Entertainment's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 EPS. On average, equities research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president now directly owns 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company's stock, valued at $6,470,120.80. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $30,000. Chilton Capital Management LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $40,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Live Nation Entertainment in the first quarter valued at about $42,000. 74.52% of the stock is currently owned by institutional investors.

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.