Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Rating of “Moderate Buy” by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus rating of “Moderate Buy” by the twenty-four research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $197.1905.

Several equities analysts recently weighed in on the company. Sanford C. Bernstein boosted their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Susquehanna raised their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Guggenheim boosted their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a report on Tuesday, July 28th. Finally, UBS Group lifted their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, July 20th.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred on 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 directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of the business. Empowered Funds LLC grew its stake in shares of Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares during the period. Cerity Partners LLC increased its position in Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after purchasing an additional 1,550 shares during the period. Daiwa Securities Group Inc. lifted its position in Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after purchasing an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $183.92 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a market cap of $43.34 billion, a price-to-earnings ratio of -162.76 and a beta of 1.12. Live Nation Entertainment has a 12 month low of $125.34 and a 12 month high of $188.00. The company’s fifty day moving average is $176.02 and its 200-day moving average is $163.17.

Live Nation Entertainment (NYSE:LYV) last posted 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 return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts expect that Live Nation Entertainment will post 1.05 EPS for the current fiscal 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.