Live Nation Entertainment (NYSE:LYV) Stock Rating Reaffirmed by Benchmark

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $132.00 price objective on the stock. Benchmark’s price objective indicates a potential upside of 39.70% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Macquarie reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Finally, Roth Mkm reiterated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.46.

Live Nation Entertainment Price Performance

Shares of LYV stock traded down $0.31 during trading hours on Tuesday, hitting $94.49. The stock had a trading volume of 36,056 shares, compared to its average volume of 2,093,046. The stock’s 50-day moving average price is $94.73 and its two-hundred day moving average price is $95.84. Live Nation Entertainment has a one year low of $76.48 and a one year high of $107.24. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 89.93, a PEG ratio of 2.21 and a beta of 1.34. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities analysts forecast that Live Nation Entertainment will post 1.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold 8,201 shares of company stock worth $788,464 in the last ninety days. 2.85% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

Several hedge funds have recently modified their holdings of LYV. International Assets Investment Management LLC acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $788,000. Gilbert & Cook Inc. grew its stake in Live Nation Entertainment by 4.0% during the 4th quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock worth $605,000 after buying an additional 249 shares during the last quarter. Private Advisor Group LLC increased its position in Live Nation Entertainment by 19.5% during the 4th quarter. Private Advisor Group LLC now owns 5,612 shares of the company’s stock valued at $525,000 after buying an additional 917 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Live Nation Entertainment by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 790,208 shares of the company’s stock valued at $73,963,000 after buying an additional 17,403 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $428,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.