Live Nation Entertainment (NYSE:LYV) Reaches New 52-Week High at $107.24

Live Nation Entertainment, Inc. (NYSE:LYV) shares hit a new 52-week high on Thursday . The stock traded as high as $107.24 and last traded at $106.78, with a volume of 16390 shares traded. The stock had previously closed at $106.81.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LYV shares. Oppenheimer lifted their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Roth Mkm upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $92.00 to $114.00 in a research note on Friday, January 12th. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Rosenblatt Securities upped their target price on Live Nation Entertainment from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.40.

Live Nation Entertainment Stock Down 0.3 %

The business has a 50 day simple moving average of $95.22 and a 200 day simple moving average of $89.30. The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 80.31 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. American International Group Inc. lifted its position in Live Nation Entertainment by 3.6% during the 4th quarter. American International Group Inc. now owns 39,330 shares of the company’s stock worth $3,681,000 after acquiring an additional 1,373 shares during the period. American Trust raised its position in Live Nation Entertainment by 19.4% during the 4th quarter. American Trust now owns 5,430 shares of the company’s stock worth $508,000 after buying an additional 884 shares during the last quarter. FIL Ltd boosted its holdings in shares of Live Nation Entertainment by 45.5% in the fourth quarter. FIL Ltd now owns 385,229 shares of the company’s stock valued at $36,057,000 after acquiring an additional 120,486 shares in the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth about $1,164,000. Finally, Public Employees Retirement System of Ohio lifted its position in Live Nation Entertainment by 41.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 94,974 shares of the company’s stock valued at $8,890,000 after purchasing an additional 27,820 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.