The Goldman Sachs Group Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price target lifted by The Goldman Sachs Group from $175.00 to $190.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 20th. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Rothschild & Co Redburn upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the stock from $166.00 to $193.00 in a report on Friday, February 27th. Guggenheim restated a “buy” rating and set a $180.00 price objective on shares of Live Nation Entertainment in a report on Monday. Finally, Wolfe Research boosted their target price on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $184.40.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $159.90 on Thursday. The company has a market cap of $37.55 billion, a P/E ratio of -666.27 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment has a twelve month low of $112.88 and a twelve month high of $175.25. The business has a fifty day simple moving average of $151.17 and a 200 day simple moving average of $150.50.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.01% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in LYV. Clearstead Trust LLC increased its position in shares of Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 136 shares during the period. Ameriflex Group Inc. raised its position in shares of Live Nation Entertainment by 102.4% during 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 in the last quarter. Leonteq Securities AG bought a new stake in Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment in the fourth quarter worth approximately $26,000. Finally, Atwood & Palmer Inc. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $33,000. 74.52% of the stock is currently owned by institutional investors.

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.