Live Nation Entertainment (NYSE:LYV) Receives Buy Rating from Roth Mkm

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reaffirmed by Roth Mkm in a research report issued on Tuesday, Benzinga reports. They presently have a $120.00 price target on the stock. Roth Mkm’s price objective points to a potential upside of 31.20% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Oppenheimer increased their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Finally, TD Cowen reaffirmed a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.30.

Live Nation Entertainment Stock Up 3.4 %

NYSE LYV traded up $3.01 during mid-day trading on Tuesday, reaching $91.46. 564,919 shares of the company’s stock traded hands, compared to its average volume of 2,271,869. Live Nation Entertainment has a 1-year low of $64.96 and a 1-year high of $107.24. The company has a fifty day simple moving average of $98.99 and a 200-day simple moving average of $91.52. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. The company has a market cap of $21.11 billion, a price-to-earnings ratio of 68.41 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. As a group, equities research analysts expect that Live Nation Entertainment will post 1.63 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board increased its position in shares of Live Nation Entertainment by 5.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after purchasing an additional 429,650 shares during the period. Principal Financial Group Inc. increased its position in shares of Live Nation Entertainment by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after purchasing an additional 33,215 shares during the period. Findlay Park Partners LLP increased its position in shares of Live Nation Entertainment by 55.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after purchasing an additional 1,087,264 shares during the period. Cantillon Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 146.6% in the 4th quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after acquiring an additional 1,632,749 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Live Nation Entertainment by 5.7% in the 3rd quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock worth $221,858,000 after acquiring an additional 144,326 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.