Live Nation Entertainment (NYSE:LYV) Price Target Raised to $215.00 at Citizens Jmp

Live Nation Entertainment (NYSE:LYV) had its target price hoisted by Citizens Jmp from $190.00 to $215.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Several other brokerages also recently commented on LYV. Zacks Research downgraded Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Wells Fargo & Company boosted their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Live Nation Entertainment in a research report on Wednesday. Nineteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $195.00.

Live Nation Entertainment Stock Performance

LYV stock opened at $178.05 on Wednesday. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $188.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market cap of $41.94 billion, a P/E ratio of -100.59 and a beta of 1.11. The business’s fifty day moving average is $173.20 and its 200-day moving average is $160.74.

Live Nation Entertainment (NYSE:LYV) last announced 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). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the firm earned ($0.32) earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment will post 0.96 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after acquiring an additional 759,363 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after acquiring an additional 20,165 shares during the period. CenterBook Partners LP increased its stake in shares of Live Nation Entertainment by 780.1% during the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after purchasing an additional 19,627 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Live Nation Entertainment by 14.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock worth $88,227,000 after purchasing an additional 78,171 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after purchasing an additional 123,800 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.