Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Macquarie Analyst Says

Live Nation Entertainment (NYSE:LYV) had its target price increased by equities research analysts at Macquarie from $130.00 to $146.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price suggests a potential upside of 13.18% from the company’s current price.

LYV has been the subject of several other research reports. Oppenheimer boosted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Live Nation Entertainment Price Performance

LYV stock opened at $129.00 on Friday. The business’s fifty day moving average price is $112.78 and its 200 day moving average price is $100.70. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.83. The company has a market capitalization of $29.97 billion, a PE ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. On average, sell-side analysts anticipate that Live Nation Entertainment will post 1.11 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 28.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,500 shares of company stock worth $17,097,016 over the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of LYV. Brooklyn Investment Group acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. lifted its position in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at approximately $41,000. Finally, Family Firm Inc. acquired a new position in Live Nation Entertainment during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.