Live Nation Entertainment, Inc. (NYSE:LYV) Receives $197.19 Average PT from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $197.1905.

LYV has been the topic of several recent research reports. Benchmark boosted their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $215.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. UBS Group increased their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a report on Monday, July 20th. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st.

Live Nation Entertainment Stock Down 0.4%

Shares of Live Nation Entertainment stock opened at $180.84 on Monday. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24. The stock has a market cap of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a fifty day moving average price of $181.24 and a 200 day moving average price of $167.90.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company posted $0.41 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Live Nation Entertainment will post 1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on 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 approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC boosted its stake in shares of Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares in the last quarter. Cerity Partners LLC boosted its stake in Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after purchasing an additional 1,550 shares during the period. Daiwa Securities Group Inc. grew its position in Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after purchasing an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after purchasing an additional 1,711 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.