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

Live Nation Entertainment (NYSE:LYVFree Report) had its target price raised by The Goldman Sachs Group from $190.00 to $192.00 in a report published on Wednesday morning,MarketScreener reports.

Several other research analysts have also recently weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Guggenheim upped their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $185.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. UBS Group upped their price objective on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Live Nation Entertainment from $180.00 to $178.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.75.

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Live Nation Entertainment Trading Down 1.7%

Shares of Live Nation Entertainment stock opened at $162.91 on Wednesday. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $175.25. The company has a market cap of $38.37 billion, a price-to-earnings ratio of -92.04 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 1.00 and a debt-to-equity ratio of 13.93. The company’s 50-day moving average price is $157.51 and its 200-day moving average price is $148.70.

Live Nation Entertainment (NYSE:LYVGet Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) earnings per share. On average, equities analysts expect that Live Nation Entertainment will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 157,798 shares of company stock worth $26,088,615 over the last ninety days. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after purchasing an additional 1,763,511 shares during the period. Rakuten Investment Management Inc. purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $1,606,000. Profund Advisors LLC lifted its stake in Live Nation Entertainment by 51.1% in the third quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock worth $1,820,000 after acquiring an additional 3,767 shares during the period. EFG Asset Management North America Corp. purchased a new stake in Live Nation Entertainment in the third quarter worth $1,191,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in Live Nation Entertainment in the third quarter worth $2,015,000. 74.52% of the stock is currently owned by institutional investors.

Key Live Nation Entertainment News

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

Live Nation Entertainment Company Profile

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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.

Further Reading

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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