Live Nation Entertainment, Inc. (NYSE:LYV) Receives Average Rating of “Moderate Buy” from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $187.75.

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Finally, The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $190.00 to $192.00 in a research report on Wednesday, May 6th.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 157,798 shares of company stock valued at $26,088,615 over the last ninety days. Corporate insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC bought a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $313,000. Troluce Capital Advisors LLC bought a new position in Live Nation Entertainment in the first quarter worth $50,328,000. Visualize Group LP bought a new position in Live Nation Entertainment in the first quarter worth $14,934,000. Ardmore Road Asset Management LP bought a new position in Live Nation Entertainment in the first quarter worth $15,251,000. Finally, Delta Global Management LP bought a new position in Live Nation Entertainment in the first quarter worth $2,258,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.6%

Shares of Live Nation Entertainment stock opened at $169.00 on Friday. The firm has a market cap of $39.81 billion, a price-to-earnings ratio of -95.48 and a beta of 1.11. The business has a 50-day moving average price of $158.36 and a 200-day moving average price of $149.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted ($0.32) earnings per share. Equities research analysts anticipate that Live Nation Entertainment will post 1.13 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.