Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Rating of "Buy" by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) has been assigned an average rating of "Buy" from the eleven brokerages that are covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $116.30.

A number of brokerages have recently issued reports on LYV. TD Cowen restated a "buy" rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Roth Mkm reissued a "buy" rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday. Roth Capital upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a report on Thursday, January 11th. Oppenheimer upped their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 21st. Finally, Morgan Stanley raised their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now owns 59,374 shares of the company's stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.85% of the company's stock.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Live Nation Entertainment in the fourth quarter worth about $248,139,000. Cantillon Capital Management LLC grew its stake in shares of Live Nation Entertainment by 146.6% in the 4th quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company's stock valued at $257,101,000 after purchasing an additional 1,632,749 shares during the period. Findlay Park Partners LLP raised its holdings in shares of Live Nation Entertainment by 55.1% in the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company's stock worth $254,060,000 after buying an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of Live Nation Entertainment by 52.8% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company's stock worth $174,384,000 after buying an additional 726,000 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Live Nation Entertainment by 104.2% in the 4th quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company's stock valued at $112,268,000 after buying an additional 606,743 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Trading Up 1.5 %

Live Nation Entertainment stock traded up $1.34 during midday trading on Friday, reaching $89.83. The stock had a trading volume of 1,785,137 shares, compared to its average volume of 2,274,432. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment has a twelve month low of $65.20 and a twelve month high of $107.24. The stock has a market capitalization of $20.73 billion, a PE ratio of 67.54 and a beta of 1.30. The stock's 50-day simple moving average is $98.87 and its 200 day simple moving average is $91.52.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $4.72 billion. Analysts expect that Live Nation Entertainment will post 1.62 EPS for the current year.

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.