Live Nation Entertainment (NYSE:LYV) Price Target Raised to $155.00

Live Nation Entertainment (NYSE:LYV) had its target price boosted by Oppenheimer from $120.00 to $155.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

LYV has been the topic of a number of other research reports. Evercore ISI raised their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America started coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. Roth Mkm increased their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $129.00 on Tuesday. Live Nation Entertainment has a one year low of $81.38 and a one year high of $130.83. The company’s 50-day moving average is $112.78 and its 200 day moving average is $100.62. The company has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a price-to-earnings-growth ratio of 3.27 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the firm posted $1.78 EPS. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 28.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares in the company, valued at $5,134,865.82. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock valued at $17,097,016 in the last quarter. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. grew its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth $41,000. Finally, Family Firm Inc. bought a new position in shares of Live Nation Entertainment during the 2nd quarter worth $42,000. 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.