Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) PT at $186.38

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $186.2857.

Several equities research analysts have recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. Morgan Stanley reiterated an “overweight” rating and set a $185.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Evercore reiterated an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. UBS Group lifted their price objective on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Roth Mkm reiterated a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC raised its holdings in shares of Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after purchasing an additional 75 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. raised its holdings in shares of Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Live Nation Entertainment by 24.4% during the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after purchasing an additional 82 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Live Nation Entertainment by 1.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock worth $972,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.8%

NYSE:LYV opened at $153.46 on Tuesday. Live Nation Entertainment has a 12 month low of $125.34 and a 12 month high of $175.25. The firm has a fifty day simple moving average of $157.49 and a 200-day simple moving average of $148.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. The company has a market capitalization of $36.03 billion, a P/E ratio of -639.41 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate that Live Nation Entertainment will post 1.45 earnings per share for the current 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.