Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given a consensus rating of “Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $57.35.
Several brokerages recently commented on LYV. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Macquarie reiterated a “buy” rating and set a $60.00 price target on shares of Live Nation Entertainment in a report on Thursday, November 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 2nd.
In other Live Nation Entertainment news, CEO Michael Rapino sold 85,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $47.93, for a total value of $4,074,050.00. Following the transaction, the chief executive officer now directly owns 797,030 shares in the company, valued at approximately $38,201,647.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 255,000 shares of company stock worth $12,736,400 over the last 90 days. Insiders own 5.19% of the company’s stock.
Shares of NYSE:LYV opened at $54.02 on Tuesday. The stock has a market cap of $11.36 billion, a P/E ratio of -112.54 and a beta of 1.14. Live Nation Entertainment has a 12 month low of $35.94 and a 12 month high of $58.26. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.08 and a current ratio of 1.08.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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