Live Nation Entertainment, Inc. (NYSE:LYV)‘s stock had its “buy” rating reaffirmed by stock analysts at Citigroup Inc in a research report issued to clients and investors on Friday. They presently have a $39.00 price target on the stock, up from their previous price target of $32.00. Citigroup Inc’s price target points to a potential upside of 14.77% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, May 5th. Macquarie boosted their price objective on shares of Live Nation Entertainment from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Finally, Goldman Sachs Group Inc assumed coverage on shares of Live Nation Entertainment in a research note on Monday, April 3rd. They set a “buy” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $35.75.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV) opened at 33.86 on Friday. The company has a 50-day moving average of $32.25 and a 200 day moving average of $29.19. The company’s market cap is $6.92 billion. Live Nation Entertainment has a 12 month low of $22.20 and a 12 month high of $35.13.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. Live Nation Entertainment had a net margin of 0.31% and a return on equity of 1.80%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.27 billion. The company’s revenue was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that Live Nation Entertainment will post $0.14 earnings per share for the current fiscal year.

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In other news, Director James S. Kahan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $34.01, for a total value of $340,100.00. Following the transaction, the director now owns 82,605 shares in the company, valued at $2,809,396.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Margaret L. Johnson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $28.63, for a total transaction of $257,670.00. The disclosure for this sale can be found here. Corporate insiders own 4.16% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of LYV. Janus Capital Management LLC increased its position in shares of Live Nation Entertainment by 57.3% in the first quarter. Janus Capital Management LLC now owns 40,900 shares of the company’s stock valued at $1,242,000 after buying an additional 14,900 shares in the last quarter. Colony Group LLC increased its position in shares of Live Nation Entertainment by 6.2% in the first quarter. Colony Group LLC now owns 75,955 shares of the company’s stock valued at $2,307,000 after buying an additional 4,405 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Live Nation Entertainment by 16.0% in the first quarter. Driehaus Capital Management LLC now owns 50,873 shares of the company’s stock valued at $1,545,000 after buying an additional 7,008 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. increased its position in shares of Live Nation Entertainment by 2.4% in the first quarter. TPG Group Holdings SBS Advisors Inc. now owns 95,907 shares of the company’s stock valued at $2,913,000 after buying an additional 2,248 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at about $450,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

12 Month Chart for NYSE:LYV

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