Live Nation Entertainment, Inc. (NYSE:LYV) had its price target raised by Jefferies Group LLC from $42.00 to $46.00 in a research report sent to investors on Friday, November 3rd. Jefferies Group LLC currently has a buy rating on the stock. Jefferies Group also issued estimates for Live Nation Entertainment’s FY2017 earnings at $0.15 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.64 EPS, Q2 2019 earnings at $0.44 EPS and Q3 2019 earnings at $0.70 EPS.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Live Nation Entertainment from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Tuesday, October 24th. J P Morgan Chase & Co restated a buy rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. William Blair began coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They set an outperform rating on the stock. Stephens reiterated an overweight rating and issued a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Live Nation Entertainment from a buy rating to a strong-buy rating in a report on Sunday, July 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment currently has a consensus rating of Buy and a consensus price target of $42.86.
Shares of Live Nation Entertainment (NYSE:LYV) opened at $44.42 on Friday. The company has a market cap of $9,092.99, a P/E ratio of 2,198.50 and a beta of 1.07. Live Nation Entertainment has a 1 year low of $26.41 and a 1 year high of $46.33. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11.
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In related news, insider Brian Capo sold 7,500 shares of Live Nation Entertainment stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the sale, the insider now owns 13,354 shares of the company’s stock, valued at approximately $540,837. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Rapino sold 70,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00. Following the sale, the chief executive officer now directly owns 185,277 shares in the company, valued at approximately $8,324,495.61. The disclosure for this sale can be found here. In the last three months, insiders sold 524,011 shares of company stock worth $23,506,002. Insiders own 4.77% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Live Nation Entertainment by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock worth $378,695,000 after acquiring an additional 451,457 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Live Nation Entertainment by 8,038.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock worth $252,002,000 after acquiring an additional 5,715,400 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 2.4% during the 2nd quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock worth $181,234,000 after acquiring an additional 120,428 shares in the last quarter. State Street Corp grew its holdings in Live Nation Entertainment by 2.8% during the 2nd quarter. State Street Corp now owns 3,497,318 shares of the company’s stock worth $121,878,000 after acquiring an additional 95,764 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Live Nation Entertainment during the 2nd quarter worth $109,693,000. 68.67% of the stock is owned by institutional investors.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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