Jefferies Group Increases Live Nation Entertainment Inc. (LYV) Price Target to $33.00
Live Nation Entertainment Inc. (NYSE:LYV) had its price objective increased by equities researchers at Jefferies Group from $32.00 to $33.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Jefferies Group’s target price points to a potential upside of 17.35% from the stock’s previous close.
A number of other research firms have also issued reports on LYV. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Stephens initiated coverage on Live Nation Entertainment in a research report on Thursday, October 6th. They issued an “equal weight” rating and a $30.00 price target for the company. They noted that the move was a valuation call. JPMorgan Chase & Co. initiated coverage on Live Nation Entertainment in a research report on Thursday, August 18th. They issued an “overweight” rating and a $34.00 price target for the company. Finally, Citigroup Inc. upped their price target on Live Nation Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, October 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.88.
Live Nation Entertainment (NYSE:LYV) traded up 1.26% on Tuesday, reaching $28.12. The company’s stock had a trading volume of 913,414 shares. The firm’s market capitalization is $5.69 billion. The company has a 50 day moving average of $27.63 and a 200 day moving average of $25.91. Live Nation Entertainment has a 52 week low of $18.77 and a 52 week high of $29.04.
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In other Live Nation Entertainment news, Director Mark S. Shapiro sold 22,642 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $28.08, for a total transaction of $635,787.36. Following the transaction, the director now directly owns 36,929 shares in the company, valued at $1,036,966.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $27.78, for a total value of $277,800.00. Following the transaction, the director now owns 35,398 shares in the company, valued at $983,356.44. The disclosure for this sale can be found here. 4.16% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC boosted its position in Live Nation Entertainment by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 25,224 shares of the company’s stock worth $593,000 after buying an additional 75 shares during the period. Capstone Asset Management Co. boosted its position in Live Nation Entertainment by 0.8% in the second quarter. Capstone Asset Management Co. now owns 12,838 shares of the company’s stock worth $302,000 after buying an additional 100 shares during the period. Creative Planning boosted its position in Live Nation Entertainment by 6.1% in the third quarter. Creative Planning now owns 4,334 shares of the company’s stock worth $119,000 after buying an additional 249 shares during the period. Capital Investment Counsel Inc boosted its position in Live Nation Entertainment by 2.1% in the third quarter. Capital Investment Counsel Inc now owns 14,184 shares of the company’s stock worth $390,000 after buying an additional 298 shares during the period. Finally, Eaton Vance Management boosted its position in Live Nation Entertainment by 0.6% in the second quarter. Eaton Vance Management now owns 66,995 shares of the company’s stock worth $1,574,000 after buying an additional 392 shares during the period. Institutional investors own 63.25% of the company’s stock.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.
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