Live Nation Entertainment (NYSE:LYV) Stock Price Up 6% – What’s Next?

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price was up 6% during trading on Monday . The stock traded as high as $167.56 and last traded at $165.49. Approximately 2,797,190 shares were traded during trading, a decline of 5% from the average daily volume of 2,933,219 shares. The stock had previously closed at $156.13.

Analyst Ratings Changes

LYV has been the topic of several recent analyst reports. Wolfe Research raised their target price on Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Roth Mkm reiterated a “buy” rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Wells Fargo & Company assumed coverage on Live Nation Entertainment in a research report on Wednesday, February 25th. They issued an “overweight” rating and a $204.00 price objective on the stock. Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Rothschild & Co Redburn raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the stock from $166.00 to $193.00 in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $183.65.

Live Nation Entertainment Stock Down 0.2%

The company’s fifty day simple moving average is $150.37 and its 200 day simple moving average is $150.33. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $38.85 billion, a PE ratio of -689.45 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter last year, the company posted $0.58 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clearstead Trust LLC increased its stake in shares of Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $26,000. Ameriflex Group Inc. grew its stake in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in Live Nation Entertainment during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.