Live Nation Entertainment (NYSE:LYV) Reaches New 52-Week High at $107.24

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $107.24 and last traded at $106.78, with a volume of 16390 shares. The stock had previously closed at $106.81.

Analysts Set New Price Targets

Several research analysts have recently commented on LYV shares. Morgan Stanley raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Oppenheimer raised their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $114.00 in a report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $116.40.

Live Nation Entertainment Stock Down 0.3 %

The stock has a market cap of $24.57 billion, a P/E ratio of 80.31 and a beta of 1.30. The company’s fifty day moving average price is $95.22 and its 200-day moving average price is $89.30. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Equities analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $248,139,000. Goldman Sachs Group Inc. lifted its position in shares of Live Nation Entertainment by 96.9% during the first 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 during the last quarter. Cantillon Capital Management LLC boosted its stake in Live Nation Entertainment by 146.6% in the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock valued at $257,101,000 after acquiring an additional 1,632,749 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Live Nation Entertainment during the second quarter worth $125,185,000. Finally, Findlay Park Partners LLP boosted its position in shares of Live Nation Entertainment by 55.1% in the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after purchasing an additional 1,087,264 shares in the last quarter. Hedge funds and other 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.