Jefferies Group LLC reissued their buy rating on shares of Live Nation Entertainment, Inc. (NYSE:LYV) in a research report released on Tuesday morning. The firm currently has a $42.00 price objective on the stock.

A number of other brokerages have also issued reports on LYV. ValuEngine raised Live Nation Entertainment from a sell rating to a hold rating in a research report on Friday, June 2nd. Guggenheim started coverage on Live Nation Entertainment in a research report on Wednesday, May 24th. They set a buy rating and a $40.00 target price on the stock. Zacks Investment Research lowered Live Nation Entertainment from a strong-buy rating to a hold rating in a research report on Thursday, August 10th. William Blair started coverage on Live Nation Entertainment in a research report on Friday, July 21st. They set an outperform rating on the stock. Finally, Northcoast Research lowered Live Nation Entertainment from a buy rating to a neutral rating in a research report on Monday, June 19th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $39.71.

Live Nation Entertainment (NYSE:LYV) opened at 41.52 on Tuesday. The stock has a 50 day moving average price of $38.71 and a 200-day moving average price of $34.16. Live Nation Entertainment has a 12-month low of $25.60 and a 12-month high of $42.20. The stock has a market cap of $8.51 billion, a P/E ratio of 5931.43 and a beta of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities analysts expect that Live Nation Entertainment will post $0.22 earnings per share for the current year.

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In related news, insider Brian Capo sold 7,500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the sale, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Ted Enloe III sold 6,337 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.82, for a total value of $226,991.34. Following the completion of the sale, the director now directly owns 23,450 shares of the company’s stock, valued at $839,979. The disclosure for this sale can be found here. 4.77% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Live Nation Entertainment by 4.3% in the second quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock valued at $378,695,000 after buying an additional 451,457 shares during the last quarter. Sentry Investments Corp. grew its holdings in shares of Live Nation Entertainment by 10.0% during the first quarter. Sentry Investments Corp. now owns 5,690,700 shares of the company’s stock valued at $172,827,000 after purchasing an additional 519,400 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 2.4% during the second quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock valued at $181,234,000 after purchasing an additional 120,428 shares during the last quarter. State Street Corp grew its holdings in shares of Live Nation Entertainment by 2.8% during the second quarter. State Street Corp now owns 3,497,318 shares of the company’s stock valued at $121,878,000 after purchasing an additional 95,764 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $109,693,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

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. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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