Live Nation Entertainment (NYSE:LYV) Given "Buy" Rating at Guggenheim

Guggenheim reiterated their buy rating on shares of Live Nation Entertainment (NYSE:LYV - Free Report) in a report released on Wednesday morning,Benzinga reports. They currently have a $170.00 price objective on the stock.

Several other equities analysts also 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 issued an "outperform" rating and a $185.00 price target for the company. Roth Mkm decreased their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Benchmark restated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Wolfe Research lifted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $165.24.

Live Nation Entertainment Trading Up 0.4%

Live Nation Entertainment stock traded up $0.66 during midday trading on Wednesday, reaching $148.92. 6,524,635 shares of the stock traded hands, compared to its average volume of 2,352,332. The firm has a market cap of $34.52 billion, a PE ratio of 50.83, a price-to-earnings-growth ratio of 5.88 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The company has a 50-day simple moving average of $138.45 and a two-hundred day simple moving average of $136.11. Live Nation Entertainment has a 12-month low of $87.33 and a 12-month high of $157.75.

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

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of the firm's 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 transaction, the executive vice president now owns 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock valued at $65,000 after purchasing an additional 75 shares during the last quarter. Gilbert & Cook Inc. raised its holdings in shares of Live Nation Entertainment by 1.4% in the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock valued at $723,000 after buying an additional 75 shares during the last quarter. Trust Asset Management LLC boosted its stake in shares of Live Nation Entertainment by 5.8% during the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock worth $233,000 after buying an additional 98 shares during the period. Callan Family Office LLC boosted its stake in shares of Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock worth $732,000 after buying an additional 98 shares during the period. Finally, Utah Retirement Systems grew its holdings in shares of Live Nation Entertainment by 0.4% during the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock worth $3,392,000 after buying an additional 100 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

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.