Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $107.24 and last traded at $106.78, with a volume of 16390 shares. The stock had previously closed at $106.81.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Roth Mkm upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $92.00 to $114.00 in a research note on Friday, January 12th. Roth Capital upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a research note on Thursday, January 11th. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Finally, Morgan Stanley raised their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.40.
Get Our Latest Analysis on Live Nation Entertainment
Live Nation Entertainment Stock Performance
The stock has a market capitalization of $24.41 billion, a P/E ratio of 80.03 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The company's fifty day simple moving average is $95.22 and its two-hundred day simple moving average is $89.30.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.
Insider Transactions at Live Nation Entertainment
In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company's stock, valued at $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.85% of the company's stock.
Institutional Trading of Live Nation Entertainment
A number of hedge funds have recently added to or reduced their stakes in LYV. Mango Five Family Inc. bought a new position in Live Nation Entertainment during the fourth quarter worth $25,000. Providence Capital Advisors LLC boosted its holdings in Live Nation Entertainment by 6,674.2% during the first quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company's stock worth $30,000 after purchasing an additional 2,069 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Live Nation Entertainment in the third quarter valued at about $31,000. Creative Financial Designs Inc. ADV boosted its stake in Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company's stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in Live Nation Entertainment in the third quarter valued at about $33,000. Institutional investors and hedge funds own 74.52% of the company's stock.
Live Nation Entertainment Company Profile
(
Get Free Report)
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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