Bank of America Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective hoisted by Bank of America from $125.00 to $149.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on LYV. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Macquarie upped their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Benchmark raised their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday. Guggenheim boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $137.43.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded down $0.71 during trading on Thursday, hitting $128.48. The stock had a trading volume of 1,786,114 shares, compared to its average volume of 2,172,150. The firm has a market cap of $29.85 billion, a price-to-earnings ratio of 137.46, a P/E/G ratio of 3.27 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The business’s 50-day moving average is $112.06 and its 200 day moving average is $100.35. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.83.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the sale, the director now owns 15,128 shares in the company, valued at $1,460,759.68. This represents a 10.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock valued at $17,097,016 over the last ninety days. 2.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently bought and sold shares of LYV. Cromwell Holdings LLC boosted its holdings in shares of Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the period. Private Advisor Group LLC boosted its stake in Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares during the period. Vontobel Holding Ltd. increased its position in Live Nation Entertainment by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after acquiring an additional 95 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Live Nation Entertainment by 2.3% in the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after acquiring an additional 105 shares during the period. Finally, Mystic Asset Management Inc. lifted its holdings in shares of Live Nation Entertainment by 2.1% in the 2nd 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 last quarter. 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.