Live Nation Entertainment (NYSE:LYV) Price Target Raised to $148.00

Live Nation Entertainment (NYSE:LYV) had its target price lifted by The Goldman Sachs Group from $132.00 to $148.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on LYV. Benchmark lifted their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen boosted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Guggenheim boosted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Live Nation Entertainment Trading Down 0.1 %

Live Nation Entertainment stock traded down $0.19 during mid-day trading on Wednesday, hitting $129.00. The stock had a trading volume of 3,405,591 shares, compared to its average volume of 2,179,987. The stock has a 50-day simple moving average of $112.78 and a two-hundred day simple moving average of $100.62. The stock has a market capitalization of $29.97 billion, a PE ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.83. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the firm posted $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Live Nation Entertainment will post 1.11 EPS for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. This represents a 10.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock worth $17,097,016 in the last 90 days. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of Live Nation Entertainment by 442.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company’s stock worth $1,331,000 after acquiring an additional 10,262 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Live Nation Entertainment by 27.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company’s stock worth $495,000 after purchasing an additional 1,002 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter worth about $281,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Live Nation Entertainment during the first quarter worth about $212,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter worth about $138,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.