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

Shares of Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $121.10.

A number of equities research analysts recently issued reports on LYV shares. Citigroup raised their price target on Live Nation Entertainment from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Morgan Stanley decreased their price objective on Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, June 2nd. TheStreet upgraded Live Nation Entertainment from a “d+” rating to a “c-” rating in a report on Wednesday, August 10th. Benchmark lifted their price objective on Live Nation Entertainment to $140.00 in a report on Monday, August 15th. Finally, Wolfe Research cut their target price on Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $99.42, for a total value of $49,710.00. Following the completion of the transaction, the director now owns 60,531 shares of the company’s stock, valued at approximately $6,017,992.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LYV. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 132.6% during the 4th quarter. Select Equity Group L.P. now owns 6,224,219 shares of the company’s stock valued at $744,977,000 after buying an additional 3,547,743 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Live Nation Entertainment by 96.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock valued at $435,041,000 after buying an additional 1,819,841 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Live Nation Entertainment by 1,508.8% during the 2nd quarter. Voya Investment Management LLC now owns 1,408,651 shares of the company’s stock valued at $116,326,000 after buying an additional 1,321,093 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Live Nation Entertainment by 254.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,351,040 shares of the company’s stock valued at $111,569,000 after buying an additional 969,976 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Live Nation Entertainment by 23.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,385,044 shares of the company’s stock worth $279,537,000 after purchasing an additional 635,049 shares during the period. Institutional investors own 71.08% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $90.73 on Friday. The firm has a market cap of $20.87 billion, a PE ratio of -181.46 and a beta of 1.32. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 146.87. The business has a 50 day moving average of $91.38 and a 200-day moving average of $98.29. Live Nation Entertainment has a 12-month low of $79.50 and a 12-month high of $127.75.

Live Nation Entertainment (NYSE:LYVGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned ($0.90) earnings per share. Live Nation Entertainment’s revenue was up 669.9% on a year-over-year basis. As a group, sell-side analysts expect that Live Nation Entertainment will post 0.4 earnings per share for the current year.

About Live Nation Entertainment

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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