Live Nation Entertainment (NYSE:LYV) Raised to Buy at Citigroup

Citigroup upgraded shares of Live Nation Entertainment (NYSE:LYVGet Rating) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have $82.00 target price on the stock, down from their previous target price of $90.00.

Several other analysts have also recently weighed in on LYV. Rosenblatt Securities reduced their price objective on shares of Live Nation Entertainment from $138.00 to $101.00 and set a buy rating on the stock in a research note on Tuesday, October 18th. Morgan Stanley reduced their price objective on shares of Live Nation Entertainment from $110.00 to $95.00 and set an equal weight rating on the stock in a research note on Tuesday, November 1st. Redburn Partners began coverage on shares of Live Nation Entertainment in a research note on Tuesday, November 22nd. They issued a neutral rating on the stock. Guggenheim reduced their price objective on shares of Live Nation Entertainment from $140.00 to $120.00 and set a buy rating on the stock in a research note on Friday, October 7th. Finally, Benchmark boosted their target price on shares of Live Nation Entertainment to $140.00 in a report on Monday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of Moderate Buy and an average target price of $107.38.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $73.55 on Monday. The firm’s fifty day moving average price is $75.41 and its two-hundred day moving average price is $85.03. The stock has a market cap of $16.98 billion, a PE ratio of 105.07 and a beta of 1.31. Live Nation Entertainment has a fifty-two week low of $65.05 and a fifty-two week high of $126.79. The company has a debt-to-equity ratio of 12.85, a quick ratio of 1.04 and a current ratio of 1.04.

Live Nation Entertainment (NYSE:LYVGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Live Nation Entertainment had a net margin of 2.01% and a return on equity of 1,222.70%. On average, equities analysts expect that Live Nation Entertainment will post 0.66 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $92.66, for a total transaction of $7,227,480.00. Following the transaction, the chief executive officer now owns 3,711,273 shares in the company, valued at $343,886,556.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $92.66, for a total transaction of $7,227,480.00. Following the transaction, the chief executive officer now owns 3,711,273 shares in the company, valued at $343,886,556.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jimmy Iovine bought 13,740 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was acquired at an average price of $73.28 per share, for a total transaction of $1,006,867.20. Following the acquisition, the director now directly owns 13,740 shares in the company, valued at $1,006,867.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 312,000 shares of company stock worth $26,640,900. Company insiders own 4.01% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of Live Nation Entertainment by 86.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 296,163 shares of the company’s stock worth $22,521,000 after acquiring an additional 137,109 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $587,000. Toroso Investments LLC raised its holdings in shares of Live Nation Entertainment by 5.1% in the 3rd quarter. Toroso Investments LLC now owns 7,027 shares of the company’s stock worth $534,000 after acquiring an additional 341 shares during the last quarter. IHT Wealth Management LLC grew its position in Live Nation Entertainment by 16.5% in the 3rd quarter. IHT Wealth Management LLC now owns 3,142 shares of the company’s stock worth $239,000 after purchasing an additional 444 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Live Nation Entertainment in the 3rd quarter worth about $1,020,000. Institutional investors and hedge funds own 71.08% of the company’s stock.

Live Nation Entertainment Company Profile

(Get Rating)

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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