Live Nation Entertainment (NYSE:LYV) Coverage Initiated at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein began coverage on shares of Live Nation Entertainment (NYSE:LYV - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The firm set an "outperform" rating and a $185.00 price target on the stock. Sanford C. Bernstein's price target suggests a potential upside of 28.52% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Roth Mkm dropped their price objective on shares of 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. Macquarie lifted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Benchmark reissued a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Susquehanna began coverage on Live Nation Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $155.00 price objective for the company. Finally, Morgan Stanley upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $163.50.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded up $3.77 during midday trading on Wednesday, reaching $143.94. 5,002,739 shares of the company's stock were exchanged, compared to its average volume of 2,312,197. The stock's 50-day simple moving average is $134.29 and its 200 day simple moving average is $135.58. The firm has a market cap of $33.36 billion, a price-to-earnings ratio of 52.92, a P/E/G ratio of 1.81 and a beta of 1.44. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $0.60 EPS. Live Nation Entertainment's revenue for the quarter was down 11.0% on a year-over-year basis. On average, analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was 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 owns 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,374 shares of company stock valued at $5,815,812 in the last ninety days. 2.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Amundi boosted its position in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after acquiring an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock valued at $5,140,000 after purchasing an additional 33,980 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $226,000. Aviva PLC lifted its stake in Live Nation Entertainment by 1,524.1% in the fourth quarter. Aviva PLC now owns 97,057 shares of the company's stock valued at $12,569,000 after buying an additional 91,081 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock worth $132,088,000 after buying an additional 48,949 shares in the last quarter. Institutional investors 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.