The Goldman Sachs Group Increases Live Nation Entertainment (NYSE:LYV) Price Target to $148.00

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by The Goldman Sachs Group from $132.00 to $148.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

LYV has been the topic of several other reports. Benchmark increased their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen lifted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday. Guggenheim raised their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.71.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $126.98 on Wednesday. The firm has a market capitalization of $29.25 billion, a P/E ratio of 135.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The firm’s fifty day moving average price is $111.36 and its two-hundred day moving average price is $100.15. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $130.76.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Live Nation Entertainment will post 1.18 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The stock was 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 $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now owns 15,128 shares in the company, valued at $1,460,759.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 in the last ninety days. 2.72% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after buying an additional 387,008 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Live Nation Entertainment by 0.7% during the third quarter. Public Sector Pension Investment Board now owns 488,866 shares of the company’s stock valued at $53,526,000 after acquiring an additional 3,200 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Live Nation Entertainment by 5.1% in the 3rd quarter. MetLife Investment Management LLC now owns 47,931 shares of the company’s stock worth $5,248,000 after acquiring an additional 2,342 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Live Nation Entertainment by 24.9% during the 3rd quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock valued at $477,000 after purchasing an additional 870 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $31,000. 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.