Live Nation Entertainment (NYSE:LYV) Reaches New 1-Year High – Should You Buy?

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $188.00 and last traded at $183.44, with a volume of 2345507 shares. The stock had previously closed at $186.59.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYV. Guggenheim raised their price objective on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Rothschild & Co Redburn upped their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Citizens Jmp assumed coverage on Live Nation Entertainment in a report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Live Nation Entertainment Trading Down 1.7%

The stock has a 50-day moving average of $168.43 and a 200 day moving average of $157.53. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $43.21 billion, a PE ratio of -103.64 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. increased its holdings in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $30,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.