Live Nation Entertainment, Inc. (NYSE:LYV) Stock Rating Upgraded by BidaskClub
Live Nation Entertainment, Inc. (NYSE:LYV) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.
Other equities analysts also recently issued research reports about the company. Guggenheim began coverage on Live Nation Entertainment in a research report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 price objective on the stock. ValuEngine raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $39.00 price objective (up previously from $32.00) on shares of Live Nation Entertainment in a research report on Friday, May 19th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Friday, May 5th. Finally, Macquarie upped their price objective on Live Nation Entertainment from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.00.
Live Nation Entertainment (LYV) traded down 0.06% during mid-day trading on Friday, reaching $35.48. 705,883 shares of the company traded hands. The firm’s market capitalization is $7.25 billion. The company’s 50 day moving average price is $34.77 and its 200 day moving average price is $30.65. Live Nation Entertainment has a 12-month low of $24.24 and a 12-month high of $36.44.
Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.11. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.27 billion. Live Nation Entertainment had a negative return on equity of 0.16% and a negative net margin of 0.03%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts predict that Live Nation Entertainment will post $0.14 EPS for the current year.
In other news, Director Robert Ted Enloe III sold 6,337 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the transaction, the director now owns 23,450 shares of the company’s stock, valued at approximately $839,979. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James S. Kahan sold 10,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $34.01, for a total value of $340,100.00. Following the transaction, the director now directly owns 82,605 shares in the company, valued at approximately $2,809,396.05. The disclosure for this sale can be found here. Insiders have sold a total of 36,337 shares of company stock worth $1,264,291 in the last three months. Corporate insiders own 4.77% of the company’s stock.
Several institutional investors have recently bought and sold shares of LYV. Highbridge Capital Management LLC increased its position in Live Nation Entertainment by 198.9% in the fourth quarter. Highbridge Capital Management LLC now owns 10,582 shares of the company’s stock worth $282,000 after buying an additional 21,282 shares during the last quarter. Credit Agricole S A purchased a new position in Live Nation Entertainment during the fourth quarter worth about $115,000. Karp Capital Management Corp purchased a new position in Live Nation Entertainment during the first quarter worth about $686,000. World Asset Management Inc increased its position in Live Nation Entertainment by 9.7% in the first quarter. World Asset Management Inc now owns 8,844 shares of the company’s stock worth $269,000 after buying an additional 783 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in Live Nation Entertainment by 175.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 590,730 shares of the company’s stock worth $17,938,000 after buying an additional 376,400 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.
About Live Nation Entertainment
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.
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