Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Price Target at $157.27

Live Nation Entertainment, Inc. (NYSE:LYV) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $157.27.

Several research firms recently weighed in on LYV. Citigroup upped their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Benchmark restated a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Roth Mkm upped their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Macquarie increased their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last 90 days. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi lifted its position in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after purchasing an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth $226,000. Charles Schwab Investment Management Inc. lifted its position in shares of Live Nation Entertainment by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after purchasing an additional 107,844 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Live Nation Entertainment by 392.4% during the 3rd quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock worth $1,898,000 after purchasing an additional 13,815 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 2.8 %

LYV stock opened at $122.51 on Monday. The company’s 50-day simple moving average is $139.01 and its 200-day simple moving average is $127.12. 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 has a 52-week low of $86.81 and a 52-week high of $157.75. The firm has a market cap of $28.59 billion, a P/E ratio of 45.04, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. As a group, equities analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current fiscal 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.