Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus rating of “Moderate Buy” by the twenty-three brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $187.75.

Several research analysts recently commented on LYV shares. Susquehanna increased their price objective on Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, Roth Mkm restated a “buy” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 157,798 shares of company stock worth $26,088,615 in the last quarter. Company insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth $285,924,000. Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after buying an additional 1,763,511 shares during the period. Sachem Head Capital Management LP purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $173,380,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after acquiring an additional 1,099,350 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after purchasing an additional 1,033,289 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 0.1%

LYV stock opened at $165.74 on Friday. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a 50-day simple moving average of $158.63 and a 200-day simple moving average of $149.75. The stock has a market capitalization of $39.04 billion, a P/E ratio of -93.64 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Live Nation Entertainment will post 1.13 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.