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

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $160.33.

Several brokerages recently commented on LYV. Rosenblatt Securities reaffirmed a “buy” rating and issued a $174.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Macquarie boosted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Roth Mkm boosted their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Bank of America increased their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its position in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock valued at $1,120,177,000 after acquiring an additional 44,703 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after purchasing an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Live Nation Entertainment by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after purchasing an additional 108,293 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock valued at $415,447,000 after purchasing an additional 777,105 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $128.88 on Friday. The firm has a fifty day simple moving average of $133.75 and a two-hundred day simple moving average of $130.75. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month high of $157.75. The company has a market capitalization of $30.08 billion, a PE ratio of 47.38, a P/E/G ratio of 1.81 and a beta of 1.31. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

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.