Live Nation Entertainment (NYSE:LYV) Receives New Coverage from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Live Nation Entertainment (NYSE:LYV) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $120.00 price target on the stock.

A number of other equities research analysts have also recently commented on LYV. Morgan Stanley raised their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Rosenblatt Securities lowered their price objective on 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 Mkm reiterated a buy rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Finally, Roth Capital upgraded Live Nation Entertainment from a neutral rating to a buy rating in a report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $116.64.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $88.91 on Tuesday. Live Nation Entertainment has a 52 week low of $66.38 and a 52 week high of $107.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The stock has a market capitalization of $20.52 billion, a PE ratio of 66.85 and a beta of 1.30. The stock’s 50-day moving average price is $98.82 and its 200-day moving average price is $91.62.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. As a group, equities analysts expect that Live Nation Entertainment will post 1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Live Nation Entertainment by 26.8% in the 1st quarter. Van ECK Associates Corp now owns 45,161 shares of the company’s stock worth $4,777,000 after purchasing an additional 9,548 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Live Nation Entertainment by 3.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 587,912 shares of the company’s stock valued at $62,183,000 after buying an additional 19,917 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Live Nation Entertainment by 9.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,049 shares of the company’s stock valued at $1,380,000 after buying an additional 1,089 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Live Nation Entertainment by 10.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 5,844 shares of the company’s stock valued at $618,000 after buying an additional 571 shares during the period. Finally, Lederer & Associates Investment Counsel CA raised its position in shares of Live Nation Entertainment by 8.4% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 9,714 shares of the company’s stock valued at $1,027,000 after buying an additional 750 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

About Live Nation Entertainment

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.