Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Price Target at $188.50

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $188.50.

A number of research analysts have commented on the company. Susquehanna boosted their price objective on Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Citizens Jmp began coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price objective for the company. Finally, Rothschild & Co Redburn lifted their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC increased its stake in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after purchasing an additional 75 shares during the period. Vident Advisory LLC grew its holdings in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. grew its holdings in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after buying an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares during the period. Finally, Ameriflex Group Inc. raised its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.2%

Shares of Live Nation Entertainment stock opened at $183.59 on Friday. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $188.00. The business’s fifty day moving average is $168.96 and its two-hundred day moving average is $157.87. 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 market cap of $43.25 billion, a PE ratio of -103.72 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.32) earnings per share. Analysts anticipate that Live Nation Entertainment will post 1.09 earnings per share for the current year.

About Live Nation Entertainment

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.