Guggenheim Increases Live Nation Entertainment (NYSE:LYV) Price Target to $146.00

Live Nation Entertainment (NYSE:LYV) had its target price lifted by analysts at Guggenheim from $130.00 to $146.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 12.97% from the company’s current price.

LYV has been the subject of several other reports. Roth Mkm lifted their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer upped their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Benchmark boosted their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.77.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded up $5.44 during trading on Tuesday, hitting $129.24. 3,175,822 shares of the company’s stock were exchanged, compared to its average volume of 2,143,176. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 121.93, a PEG ratio of 3.03 and a beta of 1.33. The business has a 50-day simple moving average of $110.04 and a 200-day simple moving average of $99.68.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, research analysts forecast that Live Nation Entertainment will post 1.16 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment 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 transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This 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. 2.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of LYV. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. UMB Bank n.a. raised its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $41,000. Family Firm Inc. acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at approximately $42,000. Finally, Cromwell Holdings LLC raised its position in Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.