Analysts Set Live Nation Entertainment, Inc. (NYSE:LYV) PT at $188.50

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $190.15.

A number of equities research analysts have commented on LYV shares. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wolfe Research raised their price objective on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Rothschild & Co Redburn lifted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Leonteq Securities AG bought a new position in shares of Live Nation Entertainment in the 4th quarter worth $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $26,000. Burkett Financial Services LLC purchased a new position in Live Nation Entertainment in the 2nd quarter worth $26,000. Ameriflex Group Inc. raised its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $30,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV traded down $2.90 during midday trading on Friday, hitting $179.68. 1,631,283 shares of the company traded hands, compared to its average volume of 2,554,460. The company’s 50-day moving average is $170.56 and its 200 day moving average is $158.61. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a market capitalization of $42.32 billion, a PE ratio of -101.51 and a beta of 1.11. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $188.00.

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 analysts’ consensus estimates 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 company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Live Nation Entertainment’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Live Nation Entertainment will post 1.09 EPS for the current year.

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.