Live Nation Entertainment (NYSE:LYV) PT Raised to $122.00

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price hoisted by stock analysts at Rosenblatt Securities from $119.00 to $122.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Rosenblatt Securities' price target points to a potential upside of 28.90% from the stock's current price.

LYV has been the subject of a number of other reports. Roth Capital upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a research report on Thursday, January 11th. Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Live Nation Entertainment in a report on Tuesday. They issued a "buy" rating and a $120.00 price objective for the company. Finally, Oppenheimer upped their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $116.91.

Live Nation Entertainment Price Performance

NYSE:LYV traded up $6.38 during trading hours on Friday, reaching $94.65. 5,775,874 shares of the company were exchanged, compared to its average volume of 2,299,668. The stock's 50-day moving average is $98.61 and its 200-day moving average is $91.61. The firm has a market cap of $21.85 billion, a PE ratio of 71.17, a price-to-earnings-growth ratio of 1.81 and a beta of 1.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment has a twelve month low of $66.38 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.32). The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. Live Nation Entertainment's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.25) earnings per share. On average, sell-side analysts anticipate that Live Nation Entertainment will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV raised its holdings in Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Live Nation Entertainment during the 1st quarter worth $32,000. Raleigh Capital Management Inc. acquired a new position in Live Nation Entertainment in the third quarter valued at $33,000. Rise Advisors LLC grew its holdings in shares of Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company's stock worth $35,000 after purchasing an additional 159 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company's stock valued at $41,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

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.