Morgan Stanley Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its target price hoisted by research analysts at Morgan Stanley from $200.00 to $215.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 25.19% from the stock’s previous close.

Several other analysts also recently commented on the stock. Roth Capital set a $208.00 target price on shares of Live Nation Entertainment in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings downgraded shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $220.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, October 13th. Finally, Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.14.

Live Nation Entertainment Stock Up 0.7%

NYSE LYV traded up $1.23 on Monday, reaching $171.74. The company had a trading volume of 492,949 shares, compared to its average volume of 2,522,477. The stock has a market capitalization of $40.47 billion, a P/E ratio of -152.03 and a beta of 1.17. The company’s fifty day moving average is $175.05 and its 200 day moving average is $171.52. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $189.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. Sell-side analysts anticipate that Live Nation Entertainment will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of large investors have recently bought and sold shares of LYV. V Square Quantitative Management LLC grew its position in Live Nation Entertainment by 10.2% during the third quarter. V Square Quantitative Management LLC now owns 3,067 shares of the company’s stock worth $519,000 after buying an additional 285 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Live Nation Entertainment by 253.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 374,747 shares of the company’s stock valued at $63,445,000 after acquiring an additional 268,710 shares in the last quarter. Ninety One UK Ltd bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $38,000. Contravisory Investment Management Inc. grew its holdings in shares of Live Nation Entertainment by 1,468.8% during the third quarter. Contravisory Investment Management Inc. now owns 7,781 shares of the company’s stock worth $1,317,000 after purchasing an additional 7,285 shares in the last quarter. Finally, Terra Nova Asset Management LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth approximately $263,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.