Oppenheimer Raises Live Nation Entertainment (NYSE:LYV) Price Target to $155.00

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by equities research analysts at Oppenheimer from $120.00 to $155.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 22.07% from the company’s current price.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Macquarie boosted their target price on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Benchmark raised their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI upped their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, 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. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.71.

Live Nation Entertainment Stock Down 2.1 %

Live Nation Entertainment stock opened at $126.98 on Tuesday. The firm has a market cap of $29.25 billion, a price-to-earnings ratio of 135.09, a PEG ratio of 3.15 and a beta of 1.33. 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 6.10, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a 50 day moving average price of $111.36 and a two-hundred day moving average price of $100.15.

Live Nation Entertainment (NYSE:LYV) last released its earnings results 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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts predict that Live Nation Entertainment will post 1.18 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael Rapino sold 98,849 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents 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 hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was 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 directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 0.00 % decrease in their position. 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 three months. 2.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Vanguard Group Inc. increased its stake in shares of Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after purchasing an additional 110,097 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares during the period. Finally, D1 Capital Partners L.P. increased its holdings in Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the last quarter. 74.52% of the stock is currently 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.