Live Nation Entertainment (NYSE:LYV) Given New $192.00 Price Target at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYVGet Free Report) had its price objective upped by investment analysts at The Goldman Sachs Group from $190.00 to $192.00 in a research report issued on Wednesday,MarketScreener reports. The Goldman Sachs Group’s price target indicates a potential upside of 15.04% from the company’s previous close.

A number of other analysts have also weighed in on LYV. Susquehanna upped their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Bank of America upped their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Finally, Citizens Jmp started coverage on Live Nation Entertainment in a research note on Monday, March 30th. They issued a “market outperform” rating and a $190.00 target price for the company. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $187.50.

Read Our Latest Stock Report on LYV

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $166.90 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $175.25. The firm has a fifty day simple moving average of $157.18 and a 200-day simple moving average of $148.52. The company has a market capitalization of $39.24 billion, a PE ratio of -698.25 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYVGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company earned ($0.32) earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Live Nation Entertainment will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director owned 48,030 shares in the company, valued at $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the fourth quarter valued at about $285,924,000. Principal Financial Group Inc. raised its holdings in Live Nation Entertainment by 22.1% during 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 during the last quarter. Sachem Head Capital Management LP bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at $173,380,000. Jericho Capital Asset Management L.P. raised its stake in shares of Live Nation Entertainment by 37.9% in the fourth 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 during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Live Nation Entertainment by 653.7% in the fourth quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment News Summary

Here are the key news stories impacting Live Nation Entertainment this week:

About Live Nation Entertainment

(Get Free Report)

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.

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