Live Nation Entertainment (NYSE:LYV) Shares Break Above Fifty Day Moving Average – Should You Sell?

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $173.33 and traded as high as $177.86. Live Nation Entertainment shares last traded at $177.44, with a volume of 2,096,797 shares.

Analysts Set New Price Targets

LYV has been the subject of several research analyst reports. Benchmark lifted their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research report on Tuesday, July 28th. Finally, Roth Capital set a $208.00 target price on Live Nation Entertainment in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.95.

Live Nation Entertainment Trading Up 2.9%

The company has a market capitalization of $41.81 billion, a PE ratio of -157.03 and a beta of 1.17. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average is $173.33 and its 200-day moving average is $166.40.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 54.61% and a net margin of 0.34%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the company. Gerber Kawasaki Wealth & Investment Management purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $611,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth approximately $6,770,000. MGO One Seven LLC lifted its position in Live Nation Entertainment by 5.0% during the third quarter. MGO One Seven LLC now owns 1,499 shares of the company’s stock valued at $254,000 after acquiring an additional 72 shares during the last quarter. Peak Financial Advisors LLC lifted its position in Live Nation Entertainment by 16.5% during the third quarter. Peak Financial Advisors LLC now owns 13,377 shares of the company’s stock valued at $2,265,000 after acquiring an additional 1,892 shares during the last quarter. Finally, United Asset Strategies Inc. boosted its stake in Live Nation Entertainment by 3.2% in the third quarter. United Asset Strategies Inc. now owns 5,038 shares of the company’s stock valued at $853,000 after acquiring an additional 156 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.