Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Rating of “Moderate Buy” by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $197.1905.

LYV has been the topic of several analyst reports. Sanford C. Bernstein upped their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Friday. Rothschild & Co Redburn boosted their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Monday. Finally, Wolfe Research boosted their price objective on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Monday, April 13th.

Live Nation Entertainment Stock Up 4.2%

NYSE LYV opened at $181.48 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a fifty day moving average of $175.32 and a two-hundred day moving average of $162.63. The firm has a market capitalization of $42.76 billion, a price-to-earnings ratio of -160.60 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.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data 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. The business had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, analysts predict that Live Nation Entertainment will post 0.94 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated 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 sale, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of LYV. Principal Financial Group Inc. boosted its holdings in shares of Live Nation Entertainment by 3.4% in the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after purchasing an additional 367,624 shares during the period. Independent Franchise Partners LLP increased its holdings in Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after purchasing an additional 193,104 shares during the period. Geode Capital Management LLC raised its position in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of 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 buying an additional 1,099,350 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after buying an additional 123,800 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.