Live Nation Entertainment (NYSE:LYV) Given New $215.00 Price Target at Citizens Jmp

Live Nation Entertainment (NYSE:LYV) had its price target boosted by investment analysts at Citizens Jmp from $190.00 to $215.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target would indicate a potential upside of 19.91% from the company’s previous close.

Several other analysts also recently weighed in on the company. Citigroup restated a “market outperform” rating on shares of Live Nation Entertainment in a research note on Wednesday. Wolfe Research boosted their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Rothschild & Co Redburn raised their price objective on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Nineteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Live Nation Entertainment Stock Up 0.8%

NYSE LYV traded up $1.48 on Wednesday, reaching $179.31. The company had a trading volume of 201,526 shares, compared to its average volume of 2,777,843. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year high of $188.00. The firm has a 50-day moving average of $173.01 and a 200-day moving average of $160.49. The firm has a market capitalization of $42.24 billion, a PE ratio of -101.56 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results 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). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted ($0.32) earnings per share. Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that Live Nation Entertainment will post 0.96 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% 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. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vident Advisory LLC boosted its position in shares of Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the period. Axxcess Wealth Management LLC raised its position in Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. lifted its stake 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 acquiring an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake 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 worth $972,000 after acquiring an additional 82 shares in the last quarter. Finally, Root Financial Partners LLC boosted its position in Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.