Live Nation Entertainment Sees Significant Growth in Short Interest (LYV)
Shares of Live Nation Entertainment (NYSE:LYV) were the target of a large increase in short interest in the month of May. As of May 30th, there was short interest totalling 5,330,843 shares, an increase of 37.7% from the May 15th total of 3,872,254 shares, AnalystRatingsNetwork reports. Based on an average daily trading volume, of 1,960,307 shares, the short-interest ratio is presently 2.7 days. Currently, 3.7% of the company’s shares are sold short.
LYV has been the subject of a number of recent research reports. Analysts at Sterne Agee downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 28th. They now have a $26.50 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Maxim Group raised their price target on shares of Live Nation Entertainment from $26.00 to $29.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Finally, analysts at TheStreet downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $25.04.
Shares of Live Nation Entertainment (NYSE:LYV) opened at 24.11 on Thursday. Live Nation Entertainment has a 52-week low of $15.44 and a 52-week high of $24.80. The stock’s 50-day moving average is $23.46 and its 200-day moving average is $21.71. The company’s market cap is $4.788 billion.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.35) by $0.19. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $963.77 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment will post $0.21 earnings per share for the current fiscal year.
Live Nation Entertainment, Inc (NYSE:LYV), is a live entertainment company connecting more than 250 million fans across all of our platforms to over 180,000 events in approximately 47 countries.
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