Live Nation Entertainment (NYSE:LYV) Receives "Buy" Rating from Guggenheim

Live Nation Entertainment (NYSE:LYV - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $170.00 target price on the stock. Guggenheim's price objective would indicate a potential upside of 15.29% from the company's current price.

LYV has been the subject of several other reports. Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Roth Mkm lowered their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Benchmark reissued a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

Live Nation Entertainment Trading Up 1.3%

Shares of NYSE LYV traded up $1.87 during trading hours on Wednesday, hitting $147.46. The company's stock had a trading volume of 419,834 shares, compared to its average volume of 2,315,484. Live Nation Entertainment has a 12 month low of $87.33 and a 12 month high of $157.75. The stock has a market cap of $34.18 billion, a price-to-earnings ratio of 50.36, a P/E/G ratio of 5.64 and a beta of 1.44. 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 business has a 50-day simple moving average of $137.36 and a 200-day simple moving average of $135.87.

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

Insider Activity

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president now directly owns 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.72% of the company's stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in shares of Live Nation Entertainment by 17.9% during 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 period. Gilbert & Cook Inc. increased its stake in Live Nation Entertainment by 1.4% in the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock worth $723,000 after buying an additional 75 shares in the last quarter. Trust Asset Management LLC increased its stake in Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock worth $233,000 after buying an additional 98 shares in the last quarter. Callan Family Office LLC lifted its position in shares of Live Nation Entertainment by 1.8% in the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock valued at $732,000 after acquiring an additional 98 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Live Nation Entertainment by 0.4% in the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock worth $3,392,000 after acquiring an additional 100 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

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.

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