Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Target Price at $124.11

Shares of Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $124.11.

A number of research analysts recently commented on LYV shares. William Blair reaffirmed an “outperform” rating on shares of Live Nation Entertainment in a research report on Friday, April 8th. StockNews.com started coverage on shares of Live Nation Entertainment in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Rosenblatt Securities began coverage on shares of Live Nation Entertainment in a research report on Monday, April 25th. They set a “buy” rating and a $138.00 price objective on the stock. Wolfe Research decreased their target price on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating for the company in a research report on Thursday, June 2nd. Finally, Morgan Stanley decreased their target price on shares of Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, June 2nd.

In related news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $115.92, for a total transaction of $9,041,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 858,000 shares of company stock valued at $92,622,660. 4.01% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JustInvest LLC raised its stake in Live Nation Entertainment by 50.2% during the 4th quarter. JustInvest LLC now owns 7,903 shares of the company’s stock valued at $946,000 after purchasing an additional 2,641 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Live Nation Entertainment by 6.1% during the 4th quarter. Rafferty Asset Management LLC now owns 11,012 shares of the company’s stock valued at $1,318,000 after purchasing an additional 630 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in Live Nation Entertainment by 2,093.3% during the 3rd quarter. Tudor Investment Corp Et Al now owns 58,451 shares of the company’s stock valued at $5,327,000 after purchasing an additional 55,786 shares during the last quarter. Xponance Inc. raised its stake in shares of Live Nation Entertainment by 21.5% in the 4th quarter. Xponance Inc. now owns 14,593 shares of the company’s stock valued at $1,747,000 after buying an additional 2,578 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $222,000. 73.10% of the stock is owned by institutional investors and hedge funds.

LYV stock opened at $81.94 on Tuesday. Live Nation Entertainment has a 52-week low of $74.23 and a 52-week high of $127.75. The company’s 50 day simple moving average is $94.42 and its 200-day simple moving average is $106.94. The firm has a market capitalization of $18.69 billion, a P/E ratio of -39.78 and a beta of 1.29.

Live Nation Entertainment (NYSE:LYVGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.59. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm earned ($1.44) EPS. The firm’s revenue was up 520.4% compared to the same quarter last year. Equities research analysts predict that Live Nation Entertainment will post 0.49 EPS for the current fiscal year.

About Live Nation Entertainment (Get Rating)

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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