Live Nation Entertainment (NYSE:LYV) Upgraded at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Live Nation Entertainment (NYSE:LYV – Free Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI increased their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America lifted their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Benchmark upped their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Guggenheim boosted their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Check Out Our Latest Report on Live Nation Entertainment

Live Nation Entertainment Trading Up 1.2 %

Live Nation Entertainment stock opened at $140.26 on Wednesday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $116.74 and its 200-day simple moving average is $102.18. The firm has a market capitalization of $32.59 billion, a PE ratio of 149.21, a PEG ratio of 3.59 and a beta of 1.33. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $140.29.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts forecast that Live Nation Entertainment will post 1.08 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. lifted its holdings in Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after purchasing an additional 87,032 shares during the period. Geode Capital Management LLC boosted its position in shares of Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its stake in shares of Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

(Get Free Report)

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.

Further Reading