Live Nation Entertainment (NYSE:LYV) Shares Up 7% After Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV) traded up 7% during mid-day trading on Friday after Rosenblatt Securities raised their price target on the stock from $119.00 to $122.00. Rosenblatt Securities currently has a buy rating on the stock. Live Nation Entertainment traded as high as $95.40 and last traded at $94.45. 1,447,648 shares changed hands during trading, a decline of 35% from the average session volume of 2,243,301 shares. The stock had previously closed at $88.27.

LYV has been the topic of a number of other reports. Oppenheimer raised their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Live Nation Entertainment in a research note on Tuesday. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $116.91.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction on Friday, March 8th. The shares were 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 of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at about $236,000. Commonwealth Equity Services LLC raised its position in shares of Live Nation Entertainment by 6.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 10,855 shares of the company’s stock worth $901,000 after purchasing an additional 647 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Live Nation Entertainment by 7.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,935 shares of the company’s stock valued at $3,150,000 after buying an additional 2,500 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Live Nation Entertainment by 2.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 19,230 shares of the company’s stock valued at $1,597,000 after purchasing an additional 476 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Live Nation Entertainment by 5.0% in the third quarter. Xponance Inc. now owns 24,814 shares of the company’s stock worth $2,061,000 after acquiring an additional 1,181 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 9.8 %

The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 71.02, a P/E/G ratio of 1.81 and a beta of 1.34. The business has a fifty day moving average price of $98.61 and a 200 day moving average price of $91.61.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.25) earnings per share. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Live Nation Entertainment Company Profile

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.