Benchmark Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by Benchmark from $132.00 to $144.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Bank of America started coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Macquarie raised their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Roth Mkm upped their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.43.

Live Nation Entertainment Stock Performance

LYV opened at $129.21 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.76. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 3.27 and a beta of 1.33. The company’s 50 day moving average is $112.06 and its 200 day moving average is $100.35.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 EPS 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 company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the firm earned $1.78 EPS. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment will post 1.11 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last three months. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of LYV. Benjamin Edwards Inc. lifted its position in shares of Live Nation Entertainment by 1,575.8% during the third quarter. Benjamin Edwards Inc. now owns 4,441 shares of the company’s stock worth $486,000 after purchasing an additional 4,176 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Live Nation Entertainment by 102.1% during the 3rd quarter. Edgestream Partners L.P. now owns 5,308 shares of the company’s stock valued at $581,000 after buying an additional 2,681 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 period. Public Sector Pension Investment Board grew its stake in Live Nation Entertainment by 0.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 488,866 shares of the company’s stock worth $53,526,000 after acquiring an additional 3,200 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Live Nation Entertainment by 5.1% during the third 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 during the period. Hedge funds and other 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.