Live Nation Entertainment’s (LYV) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a report released on Monday morning,Benzinga reports. BTIG Research currently has a $215.00 target price on the stock.

A number of other research firms have also weighed in on LYV. Susquehanna raised their price objective on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. 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 report on Tuesday, July 21st. Wells Fargo & Company upped their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.95.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $174.28 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24. The stock’s 50 day moving average is $174.39 and its 200-day moving average is $171.94. The firm has a market capitalization of $41.07 billion, a price-to-earnings ratio of -154.23 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. Live Nation Entertainment’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Sell-side analysts forecast that Live Nation Entertainment will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its position in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after acquiring an additional 367,624 shares during the last quarter. Bank of America Corp DE purchased a new position in Live Nation Entertainment in the second quarter worth $1,221,398,000. Canada Pension Plan Investment Board bought a new position in Live Nation Entertainment in the 2nd quarter valued at $859,018,000. Bessemer Group Inc. grew its stake in Live Nation Entertainment by 25.8% in the 1st quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock valued at $353,690,000 after purchasing an additional 475,373 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Live Nation Entertainment by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock valued at $212,502,000 after purchasing an additional 143,432 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.