Live Nation Entertainment (NYSE:LYV) Price Target Raised to $132.00 at Roth Mkm

Live Nation Entertainment (NYSE:LYV) had its price target increased by Roth Mkm from $120.00 to $132.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on LYV. Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Oppenheimer boosted their price objective 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 reaffirmed a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $120.77.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $114.41 on Wednesday. The stock has a market cap of $26.29 billion, a P/E ratio of 108.96, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a fifty day simple moving average of $101.75 and a 200-day simple moving average of $97.03. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $116.57. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results 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). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. Equities analysts expect that Live Nation Entertainment will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. 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 available through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, 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 valued at $17,238,181 in the last ninety days. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its position in Live Nation Entertainment by 1.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares during the period. Mystic Asset Management Inc. grew its holdings in Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after acquiring an additional 110 shares during the period. Czech National Bank raised its position in Live Nation Entertainment by 0.5% in the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after acquiring an additional 115 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in Live Nation Entertainment by 3.2% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after acquiring an additional 120 shares during the period. Finally, Baker Tilly Wealth Management LLC lifted its holdings in Live Nation Entertainment by 5.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after acquiring an additional 130 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.