Rosenblatt Securities Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $122.00

Live Nation Entertainment (NYSE:LYV) had its target price upped by Rosenblatt Securities from $119.00 to $122.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on LYV. Roth Mkm reaffirmed a buy rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Live Nation Entertainment in a research note on Tuesday, April 30th. They issued a buy rating and a $120.00 price objective for the company. TD Cowen reiterated a buy rating and set a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, February 21st. Finally, Morgan Stanley raised their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an overweight rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $117.00.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded up $1.10 during trading on Friday, reaching $95.76. 1,874,900 shares of the company’s stock were exchanged, compared to its average volume of 2,292,646. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment has a 1-year low of $76.48 and a 1-year high of $107.24. The company has a market cap of $22.16 billion, a P/E ratio of 91.39, a PEG ratio of 1.92 and a beta of 1.34. The firm’s 50-day moving average price is $98.60 and its 200 day moving average price is $91.79.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. As a group, research analysts anticipate that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its stake in shares of Live Nation Entertainment by 6.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,855 shares of the company’s stock valued at $901,000 after buying an additional 647 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Live Nation Entertainment by 7.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,935 shares of the company’s stock worth $3,150,000 after purchasing an additional 2,500 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Live Nation Entertainment by 2.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,230 shares of the company’s stock worth $1,597,000 after purchasing an additional 476 shares in the last quarter. Xponance Inc. grew its position in Live Nation Entertainment by 5.0% in the 3rd quarter. Xponance Inc. now owns 24,814 shares of the company’s stock valued at $2,061,000 after purchasing an additional 1,181 shares during the period. Finally, Independent Advisor Alliance increased its stake in Live Nation Entertainment by 7.5% during the 3rd quarter. Independent Advisor Alliance now owns 7,740 shares of the company’s stock valued at $643,000 after purchasing an additional 537 shares in 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.