Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Wolfe Research Analyst Says

Live Nation Entertainment (NYSE:LYV) had its target price raised by stock analysts at Wolfe Research from $205.00 to $206.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s price objective points to a potential upside of 23.43% from the stock’s previous close.

Several other research firms also recently commented on LYV. Sanford C. Bernstein lifted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Oppenheimer restated an “outperform” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Wells Fargo & Company decreased their price target on Live Nation Entertainment from $204.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Bank of America increased their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Rothschild & Co Redburn raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $166.00 to $193.00 in a research note on Friday, February 27th. Twenty-one investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.14.

Live Nation Entertainment Stock Up 0.7%

Shares of LYV opened at $166.90 on Monday. The firm has a market cap of $39.19 billion, a P/E ratio of -695.42 and a beta of 1.15. Live Nation Entertainment has a 1 year low of $122.08 and a 1 year high of $175.25. The stock has a 50 day simple moving average of $155.68 and a two-hundred day simple moving average of $148.50. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. On average, analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.01% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC increased its position in Live Nation Entertainment by 4.9% during the 4th 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 boosted its stake in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. boosted its stake in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after purchasing an additional 80 shares in the last quarter. Private Trust Co. NA increased its position in shares of Live Nation Entertainment by 24.4% during the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after buying an additional 82 shares during the period. Finally, Sumitomo Life Insurance Co. raised its stake in Live Nation Entertainment by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock worth $972,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.