Live Nation Entertainment (NYSE:LYV) Coverage Initiated at BTIG Research

Analysts at BTIG Research started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $215.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 21.27% from the stock’s previous close.

A number of other brokerages have also recently commented on LYV. Wolfe Research raised their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Roth Capital reaffirmed a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Wells Fargo & Company boosted their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley upped their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.95.

Live Nation Entertainment Trading Up 0.7%

Shares of LYV stock opened at $177.29 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11. The stock has a 50 day simple moving average of $173.49 and a 200 day simple moving average of $161.07. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year high of $188.00.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) EPS. On average, research analysts predict that Live Nation Entertainment will post 0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in LYV. Empowered Funds LLC increased its position in Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after purchasing an additional 547 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 worth $121,000 after purchasing an additional 109 shares during the period. Cerity Partners LLC boosted its stake in shares of Live Nation Entertainment by 6.0% in the 2nd 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 during the last quarter. Daiwa Securities Group Inc. increased 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 increased its position 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 during the period. 74.52% of the stock is 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.