Live Nation Entertainment (NYSE:LYV) Price Target Raised to $168.00 at Wolfe Research

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Wolfe Research from $160.00 to $168.00 in a report issued on Tuesday,Benzinga reports. Wolfe Research currently has an outperform rating on the stock.

Several other research firms have also commented on LYV. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Susquehanna started coverage on shares of Live Nation Entertainment in a report on Monday, April 28th. They issued a “positive” rating and a $155.00 target price on the stock. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.35.

Live Nation Entertainment Price Performance

LYV stock opened at $141.18 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12 month low of $86.81 and a 12 month high of $157.75. The firm has a market cap of $32.72 billion, a P/E ratio of 51.90, a P/E/G ratio of 1.81 and a beta of 1.44. The company’s 50-day moving average price is $136.24 and its two-hundred day moving average price is $135.83.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Live Nation Entertainment’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president now directly owns 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. Independent Franchise Partners LLP lifted its position in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $259,000,000. Norges Bank acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $255,955,000. Nuveen LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $201,501,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock worth $366,195,000 after purchasing an additional 884,745 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

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.