Live Nation Entertainment (NYSE:LYV) Price Target Raised to $192.00 at Guggenheim

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Guggenheim from $180.00 to $192.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on LYV. Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Bank of America upped their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Weiss Ratings upgraded Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Finally, Moffett Nathanson lowered their price objective on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Twenty-one research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.19.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $159.96 on Monday. The business’s 50 day moving average price is $154.06 and its 200 day moving average price is $148.54. The firm has a market cap of $37.56 billion, a P/E ratio of -666.49 and a beta of 1.15. Live Nation Entertainment has a 52 week low of $113.20 and a 52 week high of $175.25. 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 (NYSE:LYV) last issued its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. On average, sell-side analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $1,606,000. Profund Advisors LLC lifted its position in shares of Live Nation Entertainment by 51.1% during the 3rd quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock valued at $1,820,000 after buying an additional 3,767 shares in the last quarter. EFG Asset Management North America Corp. purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $1,191,000. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $2,015,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.