Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been assigned an average rating of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment 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 company. The average 1-year target price among analysts that have covered the stock in the last year is $42.60.

A number of equities research analysts have recently weighed in on the stock. Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Saturday, December 30th. Jefferies Group lifted their price target on shares of Live Nation Entertainment from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Macquarie reiterated a “buy” rating and issued a $48.00 price target on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th.

Shares of Live Nation Entertainment (LYV) opened at $43.32 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The stock has a market cap of $8,960.00, a P/E ratio of 2,166.00 and a beta of 1.06. Live Nation Entertainment has a 1 year low of $27.00 and a 1 year high of $46.99.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. sell-side analysts anticipate that Live Nation Entertainment will post 0.14 EPS for the current fiscal year.

In related news, CEO Michael Rapino sold 70,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $45.46, for a total value of $3,182,200.00. Following the transaction, the chief executive officer now directly owns 395,277 shares of the company’s stock, valued at $17,969,292.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joe Berchtold sold 20,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $43.08, for a total transaction of $861,600.00. Following the completion of the transaction, the chief operating officer now directly owns 97,918 shares in the company, valued at $4,218,307.44. The disclosure for this sale can be found here. Insiders sold 1,106,511 shares of company stock worth $49,467,752 over the last three months. 4.77% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Assetmark Inc. bought a new position in Live Nation Entertainment in the third quarter valued at approximately $134,000. Massey Quick Simon & CO. LLC bought a new position in Live Nation Entertainment in the third quarter valued at approximately $167,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Live Nation Entertainment by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after acquiring an additional 445 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in Live Nation Entertainment in the third quarter valued at approximately $209,000. Finally, Neuberger Berman Group LLC increased its stake in Live Nation Entertainment by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 7,830 shares of the company’s stock valued at $273,000 after acquiring an additional 63 shares during the last quarter. 68.06% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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