Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price target increased by investment analysts at Citizens Jmp from $190.00 to $215.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would suggest a potential upside of 22.03% from the stock’s previous close.

LYV has been the subject of several other reports. Roth Capital reiterated a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, July 15th. Guggenheim increased their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group lifted their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday. Susquehanna downgraded shares of Live Nation Entertainment from a “positive” rating to a “neutral” rating and upped their price objective for the company from $181.00 to $186.00 in a report on Tuesday. Finally, Rothschild & Co Redburn increased their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.95.

Live Nation Entertainment Stock Down 1.0%

Shares of LYV stock opened at $176.19 on Wednesday. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $188.00. The stock has a market cap of $41.50 billion, a price-to-earnings ratio of -99.54 and a beta of 1.11. The firm’s 50-day moving average is $173.33 and its 200-day moving average is $160.96. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) 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 the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) EPS. Sell-side analysts predict that Live Nation Entertainment will post 0.96 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of LYV. Burkett Financial Services LLC bought a new stake in Live Nation Entertainment in the 2nd quarter valued at about $26,000. Leonteq Securities AG bought a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $31,000. 74.52% of the stock is owned by institutional investors.

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.