Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Target Price at $172.55

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and seventeen have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $172.55.

Several brokerages recently commented on LYV. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Monday, December 29th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Rothschild & Co Redburn cut their price target on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, Evercore boosted their price objective on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 23rd.

Institutional Trading of Live Nation Entertainment

A number of hedge funds have recently made changes to their positions in LYV. Clearstead Trust LLC raised its stake in Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the period. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $26,000. Ameriflex Group Inc. grew its stake in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in Live Nation Entertainment in the 4th quarter valued at about $30,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 1.9%

NYSE:LYV opened at $140.88 on Thursday. The stock has a 50-day simple moving average of $142.51 and a 200 day simple moving average of $149.95. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a market cap of $33.07 billion, a PE ratio of 102.09, a PEG ratio of 9.30 and a beta of 1.18. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92.

About Live Nation Entertainment

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.