Live Nation Entertainment, Inc. (LYV) Price Target Raised to $40.00 at Jefferies Group LLC

Live Nation Entertainment, Inc. (NYSE:LYV) had its price objective hoisted by research analysts at Jefferies Group LLC from $36.00 to $40.00 in a report issued on Tuesday, June 27th, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 12.42% from the company’s current price.

A number of other research firms also recently commented on LYV. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, June 19th. They noted that the move was a valuation call. ValuEngine upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $39.00 target price (up from $32.00) on shares of Live Nation Entertainment in a report on Friday, May 19th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $37.00.

Live Nation Entertainment (LYV) opened at 35.58 on Tuesday. Live Nation Entertainment has a 12-month low of $24.24 and a 12-month high of $36.44. The stock’s market capitalization is $7.27 billion. The company’s 50-day moving average is $34.77 and its 200 day moving average is $30.65.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Live Nation Entertainment had a negative net margin of 0.03% and a negative return on equity of 0.16%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.27 billion. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Live Nation Entertainment will post $0.14 EPS for the current year.

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In other news, Director Robert Ted Enloe III sold 6,337 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $35.82, for a total transaction of $226,991.34. Following the sale, the director now owns 23,450 shares in the company, valued at $839,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James S. Kahan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $34.01, for a total transaction of $340,100.00. Following the sale, the director now owns 82,605 shares in the company, valued at approximately $2,809,396.05. The disclosure for this sale can be found here. Insiders have sold 36,337 shares of company stock worth $1,264,291 in the last 90 days. 4.77% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LYV. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 5.2% in the first quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock worth $316,303,000 after buying an additional 517,577 shares during the last quarter. Sentry Investments Corp. increased its position in shares of Live Nation Entertainment by 10.0% in the first quarter. Sentry Investments Corp. now owns 5,690,700 shares of the company’s stock worth $172,827,000 after buying an additional 519,400 shares during the last quarter. State Street Corp increased its position in shares of Live Nation Entertainment by 2.9% in the first quarter. State Street Corp now owns 3,401,554 shares of the company’s stock worth $103,306,000 after buying an additional 95,550 shares during the last quarter. Jennison Associates LLC increased its position in shares of Live Nation Entertainment by 4.5% in the first quarter. Jennison Associates LLC now owns 1,878,837 shares of the company’s stock worth $57,060,000 after buying an additional 81,699 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Live Nation Entertainment by 1.8% in the first quarter. Gabelli Funds LLC now owns 1,469,800 shares of the company’s stock worth $44,638,000 after buying an additional 26,000 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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