Rosenblatt Securities Reaffirms “Buy” Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They currently have a $174.00 target price on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 29.23% from the stock’s current price.

LYV has been the subject of several other reports. Guggenheim upped their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley raised their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Bank of America upped their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Stock Performance

LYV stock opened at $134.64 on Tuesday. The firm has a market cap of $31.43 billion, a P/E ratio of 49.50, a P/E/G ratio of 1.81 and a beta of 1.38. The stock’s 50 day simple moving average is $137.82 and its 200 day simple moving average is $129.34. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, equities research analysts predict that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value 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 disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 over the last 90 days. 2.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $29,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment during the 4th quarter valued at $40,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth $44,000. Finally, Independence Bank of Kentucky purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at $45,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.