Wolfe Research Raises Live Nation Entertainment (NYSE:LYV) Price Target to $168.00

Live Nation Entertainment (NYSE:LYV) had its target price hoisted by Wolfe Research from $160.00 to $168.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price objective for the company. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price objective 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. Macquarie lifted 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 note on Thursday, March 6th. Finally, Roth Mkm decreased their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.35.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $143.70 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $33.31 billion, a P/E ratio of 52.83, a P/E/G ratio of 1.81 and a beta of 1.44. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. The firm has a 50-day moving average price of $135.34 and a two-hundred day moving average price of $135.77.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the transaction, the executive vice president now owns 189,456 shares of the company’s stock, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amundi lifted its stake in Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Live Nation Entertainment by 595.3% during the fourth 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 period. Atria Wealth Solutions Inc. acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth $226,000. Aviva PLC lifted its holdings in shares of Live Nation Entertainment by 1,524.1% during the fourth quarter. Aviva PLC now owns 97,057 shares of the company’s stock worth $12,569,000 after purchasing an additional 91,081 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after purchasing an additional 48,949 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.