Live Nation Entertainment (NYSE:LYV) Raised to Strong-Buy at BTIG Research

Key Points

• BTIG Research upgraded Live Nation Entertainment (NYSE: LYV) to “strong-buy.” The move adds to a mixed set of analyst opinions, with the stock now carrying a consensus “Moderate Buy” rating and a consensus price target of $195.95.
• Live Nation recently reported better-than-expected revenue of $3.79 billion, but earnings missed estimates, posting a loss of $1.85 per share versus expectations for a smaller loss. Revenue still rose 12.1% year over year, and analysts expect $0.96 EPS for the current fiscal year.
• The stock opened at $176.19, trading below its 52-week high of $188.00 but above its 200-day moving average of $160.96. Insider selling was also notable, with two EVP share sales disclosed in May, while institutions own 74.52% of the company.

Live Nation Entertainment (NYSE:LYV - Get Free Report) was upgraded by stock analysts at BTIG Research to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

LYV has been the subject of several other reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Guggenheim boosted their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Zacks Research lowered Live Nation Entertainment from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Susquehanna cut Live Nation Entertainment from a "positive" rating to a "neutral" rating and boosted their price target for the company from $181.00 to $186.00 in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.95.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $176.19 on Thursday. The company has a market capitalization of $41.50 billion, a PE ratio of -99.54 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The company's 50 day moving average price is $173.33 and its 200 day moving average price is $160.96. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $188.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. Research analysts expect that Live Nation Entertainment will post 0.96 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.89% of the company's stock.

Institutional Trading of Live Nation Entertainment

Several large investors have recently modified their holdings of the company. Leonteq Securities AG acquired a new position in Live Nation Entertainment during the 4th quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $26,000. Burkett Financial Services LLC bought a new position in shares of Live Nation Entertainment in the second quarter worth about $26,000. Elyxium Wealth LLC bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $30,000. Finally, DV Equities LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $31,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

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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