Live Nation Entertainment (NYSE:LYV) Given “Buy” Rating at TD Cowen

TD Cowen reissued their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note published on Tuesday, Benzinga reports. TD Cowen currently has a $108.00 price target on the stock.

LYV has been the subject of a number of other reports. Oppenheimer lifted their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, February 21st. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an overweight rating in a report on Friday, February 23rd. Rosenblatt Securities cut their target price on shares of Live Nation Entertainment from $124.00 to $119.00 and set a buy rating on the stock in a report on Thursday, April 11th. Roth Capital upgraded Live Nation Entertainment from a neutral rating to a buy rating in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of Moderate Buy and an average target price of $115.70.

Live Nation Entertainment Trading Down 7.5 %

NYSE LYV opened at $92.26 on Tuesday. Live Nation Entertainment has a 52 week low of $64.96 and a 52 week high of $107.24. The stock has a market cap of $21.29 billion, a P/E ratio of 69.37 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. The company’s fifty day simple moving average is $98.89 and its 200-day simple moving average is $91.36.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $4.72 billion. Equities research analysts predict that Live Nation Entertainment will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Live Nation Entertainment by 2.1% during the first quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock valued at $1,823,315,000 after buying an additional 317,335 shares in the last quarter. Select Equity Group L.P. raised its stake in Live Nation Entertainment by 8.1% during the 1st quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock valued at $805,849,000 after purchasing an additional 862,050 shares during the period. Canada Pension Plan Investment Board raised its position in Live Nation Entertainment by 5.1% during the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after buying an additional 429,650 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after purchasing an additional 33,215 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Live Nation Entertainment by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock worth $460,733,000 after purchasing an additional 323,756 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.