Live Nation Entertainment (NYSE:LYV) Sets New 52-Week High - Should You Buy?

Key Points

• Live Nation Entertainment hit a new 52-week high, trading as high as $176.00 before closing near $174.84, extending recent gains as the stock rose about 1.3% on the day.
• Wall Street sentiment remains constructive, with 20 Buy ratings and 3 Hold ratings; the average price target sits at $188.50, while several firms recently raised targets as high as $206.
• The company’s latest earnings showed revenue beat estimates but EPS missed badly, reporting $3.79 billion in revenue versus $3.57 billion expected, while EPS came in at -$1.85 compared with a -$0.35 consensus.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $176.00 and last traded at $174.8350, with a volume of 272460 shares trading hands. The stock had previously closed at $172.51.

Analysts Set New Price Targets

LYV has been the topic of a number of research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Susquehanna lifted their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Wolfe Research lifted their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Finally, Evercore reaffirmed an "outperform" rating and set a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $188.50.

Live Nation Entertainment Trading Up 1.3%

The stock has a market cap of $41.14 billion, a PE ratio of -98.64 and a beta of 1.12. 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 $162.57 and its 200 day moving average price is $152.92.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) EPS. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company's stock, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,776 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.89% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Axxcess Wealth Management LLC lifted its position in Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company's stock valued at $228,000 after buying an additional 75 shares during the last quarter. Vident Advisory LLC increased its stake in Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company's stock worth $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. increased its stake in Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company's stock worth $272,000 after purchasing an additional 80 shares during the period. Sumitomo Life Insurance Co. increased its stake in Live Nation Entertainment by 1.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company's stock worth $972,000 after purchasing an additional 82 shares during the period. Finally, Ameriflex Group Inc. increased its stake in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

About Live Nation Entertainment

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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