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

Live Nation Entertainment (NYSE:LYV) had its price objective raised by Wolfe Research from $205.00 to $206.00 in a report released on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s price objective would indicate a potential upside of 23.94% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein lifted their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Bank of America boosted their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Twenty-one equities 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.14.

Live Nation Entertainment Stock Up 0.3%

NYSE LYV opened at $166.21 on Monday. The stock’s 50 day simple moving average is $156.18 and its 200 day simple moving average is $148.53. Live Nation Entertainment has a one year low of $122.08 and a one year high of $175.25. The firm has a market cap of $39.03 billion, a PE ratio of -692.54 and a beta of 1.15. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the company posted $0.58 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal 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 shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the sale, the director owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

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