BTIG Research Reaffirms “Buy” Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $215.00 target price on the stock. BTIG Research’s price target points to a potential upside of 17.30% from the stock’s current price.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Rothschild & Co Redburn raised their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Guggenheim reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Friday. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Roth Capital restated a “buy” rating and set a $205.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

Live Nation Entertainment Stock Down 0.6%

Shares of Live Nation Entertainment stock opened at $183.29 on Friday. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $188.00. The firm’s 50 day moving average price is $174.83 and its 200-day moving average price is $162.20. 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 $43.17 billion, a P/E ratio of -103.55 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned $0.41 EPS. Live Nation Entertainment’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Live Nation Entertainment will post 0.94 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vident Advisory LLC grew its stake in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the period. Axxcess Wealth Management LLC grew its position in Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. increased its holdings in Live Nation Entertainment by 5.0% in the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after buying an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares during the period. Finally, Root Financial Partners LLC boosted its stake in shares of Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Live Nation reported quarterly revenue of $7.67 billion, up 9.4% year over year and ahead of the approximately $7.56 billion consensus estimate. Concert revenue, the company’s largest segment, rose 8%, helped by strong international demand. Live Nation Revenue Rises, Boosted by International Demand for Concerts
• Positive Sentiment: Adjusted earnings came in at $1.05 per share, well above analysts’ estimates ranging from $0.59 to $0.66 and up from $0.41 a year earlier. The earnings beat reinforces the company’s operating momentum and provides a positive catalyst for LYV. Live Nation Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management said fan growth reached records and described concert ticket sales as the strongest in company history. Raised expectations for the remainder of the year suggest continued demand across concerts, Ticketmaster and sponsorships. Earnings Call Highlights
• Neutral Sentiment: The upbeat results may have been partly anticipated: LYV recently traded near its 12-month high, so investors could focus on how much additional growth is reflected in the valuation rather than the headline earnings beat.

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.