Live Nation Entertainment (NYSE:LYV) Price Target Raised to $192.00

Live Nation Entertainment (NYSE:LYV) had its price target lifted by Guggenheim from $180.00 to $192.00 in a report released on Monday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on LYV. Rothschild & Co Redburn upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their target price for the stock from $166.00 to $193.00 in a research note on Friday, February 27th. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Roth Mkm restated a “buy” rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Wells Fargo & Company cut their target price on shares of Live Nation Entertainment from $204.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Finally, Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Twenty-one investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.19.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $163.28 on Monday. The firm has a 50-day moving average of $154.61 and a 200-day moving average of $148.61. Live Nation Entertainment has a one year low of $117.81 and a one year high of $175.25. The company has a market cap of $38.34 billion, a PE ratio of -680.35 and a beta of 1.15. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the business earned $0.58 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the sale, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.01% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Norges Bank acquired a new stake in Live Nation Entertainment in the 4th quarter worth about $285,924,000. Principal Financial Group Inc. raised its stake in Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after purchasing an additional 1,763,511 shares in the last quarter. Sachem Head Capital Management LP acquired a new stake in Live Nation Entertainment in the 4th quarter worth about $173,380,000. Jericho Capital Asset Management L.P. raised its stake in Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock worth $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.