Live Nation Entertainment (NYSE:LYV) Earns Buy Rating from Analysts at BTIG Research

BTIG Research started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report report published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $215.00 target price on the stock.

Several other analysts have also issued reports on the company. Susquehanna lowered Live Nation Entertainment from a “positive” rating to a “neutral” rating and boosted their target price for the company from $181.00 to $186.00 in a research note on Tuesday. Rothschild & Co Redburn increased their price target on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Guggenheim lifted their price objective on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.95.

Live Nation Entertainment Trading Up 0.7%

Shares of LYV stock opened at $177.29 on Thursday. 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 firm has a market cap of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11. The company has a 50 day moving average of $173.49 and a 200-day moving average of $161.07. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $188.00.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment will post 0.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the business’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 sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. 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 purchased a new stake in Live Nation Entertainment in the 2nd quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in Live Nation Entertainment in the 4th quarter valued at $30,000. Finally, DV Equities LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $31,000. 74.52% of the stock is owned by hedge funds and other 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.