Live Nation Entertainment (NYSE:LYV) Given New $121.00 Price Target at Deutsche Bank Aktiengesellschaft

Live Nation Entertainment (NYSE:LYV) had its price target upped by Deutsche Bank Aktiengesellschaft from $120.00 to $121.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on LYV. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an overweight rating in a research note on Friday, February 23rd. TD Cowen restated a buy rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Rosenblatt Securities raised their price objective on Live Nation Entertainment from $119.00 to $122.00 and gave the company a buy rating in a report on Friday. Roth Capital raised shares of Live Nation Entertainment from a neutral rating to a buy rating in a research note on Thursday, January 11th. Finally, Roth Mkm reaffirmed a buy rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $117.00.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded down $0.05 during midday trading on Monday, hitting $95.83. 49,532 shares of the company’s stock were exchanged, compared to its average volume of 2,276,615. The stock has a 50-day moving average price of $98.67 and a two-hundred day moving average price of $91.89. Live Nation Entertainment has a 52-week low of $76.48 and a 52-week high of $107.24. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $22.18 billion, a P/E ratio of 91.32, a PEG ratio of 1.92 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the company posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its holdings in Live Nation Entertainment by 148.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after buying an additional 200 shares during the period. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment in the 1st quarter valued at $32,000. Raleigh Capital Management Inc. purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $33,000. Rise Advisors LLC raised its position in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Live Nation Entertainment by 9,800.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after acquiring an additional 490 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.