Live Nation Entertainment, Inc. (NYSE:LYV) Receives $187.75 Consensus PT from Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $188.50.

Several analysts have weighed in on LYV shares. Bank of America raised their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 20th. Roth Mkm reaffirmed a “buy” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently modified their holdings of the company. Leonteq Securities AG bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $25,000. Nvest Wealth Strategies Inc. bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. grew its position in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after acquiring an additional 84 shares during the last quarter. Elyxium Wealth LLC bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $30,000. Finally, DV Equities LLC bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $31,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.1%

Shares of NYSE LYV opened at $172.35 on Wednesday. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $175.25. The business has a 50-day simple moving average of $162.57 and a two-hundred day simple moving average of $152.92. 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 company has a market cap of $40.60 billion, a P/E ratio of -97.37 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business earned ($0.32) EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment will post 1.09 earnings per share for the current fiscal year.

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.