Live Nation Entertainment (NYSE:LYV) Sets New 52-Week High – Here’s What Happened

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $116.53 and last traded at $116.09, with a volume of 282669 shares changing hands. The stock had previously closed at $115.84.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America began coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Oppenheimer increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Roth Mkm raised their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.77.

Live Nation Entertainment Stock Performance

The stock has a market cap of $26.45 billion, a P/E ratio of 109.73, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $101.75 and a 200-day simple moving average of $97.03.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. lifted its position in shares of Live Nation Entertainment by 3.6% in the 4th quarter. American International Group Inc. now owns 39,330 shares of the company’s stock worth $3,681,000 after purchasing an additional 1,373 shares during the period. GAMMA Investing LLC raised its position in shares of Live Nation Entertainment by 22.5% in the 1st quarter. GAMMA Investing LLC now owns 2,107 shares of the company’s stock worth $223,000 after acquiring an additional 387 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $165,000. Rise Advisors LLC boosted its position in shares of Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in Live Nation Entertainment by 8.2% in the first quarter. Fulton Bank N.A. now owns 5,634 shares of the company’s stock worth $596,000 after purchasing an additional 426 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. 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. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.