Live Nation Entertainment, Inc. (NYSE:LYV) Receives $184.40 Average Price Target from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has earned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $184.40.

A number of brokerages have commented on LYV. Roth Mkm restated a “buy” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Wall Street Zen cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Guggenheim restated a “buy” rating and set a $180.00 target price on shares of Live Nation Entertainment in a research note on Monday, March 9th. Finally, Rothschild & Co Redburn upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price target for the stock from $166.00 to $193.00 in a research report on Friday, February 27th.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the sale, the director owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriflex Group Inc. grew its holdings in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Leonteq Securities AG purchased a new stake in Live Nation Entertainment during the fourth quarter valued at $25,000. Nvest Wealth Strategies Inc. bought a new position in Live Nation Entertainment during the fourth quarter valued at $26,000. Atwood & Palmer Inc. purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $34,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.0%

Shares of NYSE:LYV opened at $145.74 on Friday. The stock’s 50-day simple moving average is $152.71 and its two-hundred day simple moving average is $149.24. The stock has a market capitalization of $34.22 billion, a price-to-earnings ratio of -607.25 and a beta of 1.11. Live Nation Entertainment has a 52-week low of $113.20 and a 52-week high of $175.25. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the previous year, the company earned $0.58 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

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.