Live Nation Entertainment (NYSE:LYV) Price Target Raised to $212.00

Live Nation Entertainment (NYSE:LYV) had its price target boosted by Citigroup from $181.00 to $212.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Wolfe Research lifted their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Sanford C. Bernstein boosted their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Up 0.1%

Shares of NYSE:LYV opened at $183.92 on Monday. The business’s 50 day moving average is $176.02 and its 200 day moving average is $163.17. The stock has a market cap of $43.34 billion, a P/E ratio of -162.76 and a beta of 1.12. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $188.00. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company posted $0.41 EPS. Live Nation Entertainment’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that Live Nation Entertainment will post 1.05 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares during the period. Geode Capital Management LLC increased its holdings in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after buying an additional 20,165 shares in the last quarter. CenterBook Partners LP raised its position in shares of Live Nation Entertainment by 780.1% in the fourth quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after acquiring an additional 19,627 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after acquiring an additional 123,800 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Live Nation Entertainment by 45.0% during the 4th quarter. ProShare Advisors LLC now owns 41,642 shares of the company’s stock worth $5,934,000 after acquiring an additional 12,916 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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.