Live Nation Entertainment (NYSE:LYV – Free Report) had its price target decreased by Rosenblatt Securities from $174.00 to $170.00 in a report released on Friday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.
Several other equities research analysts have also weighed in on the stock. Benchmark reiterated a “buy” rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Susquehanna started coverage on Live Nation Entertainment in a research report on Monday, April 28th. They set a “positive” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $159.13.
Get Our Latest Research Report on LYV
Live Nation Entertainment Trading Up 2.1 %
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. On average, analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.
Insider Transactions at Live Nation Entertainment
In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock valued at $10,497,143 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.
Hedge Funds Weigh In On Live Nation Entertainment
Several hedge funds have recently bought and sold shares of LYV. Amundi increased its holdings in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after acquiring an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after buying an additional 33,980 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Live Nation Entertainment in the 4th quarter valued at $226,000. Aviva PLC raised its holdings in Live Nation Entertainment by 1,524.1% in the 4th quarter. Aviva PLC now owns 97,057 shares of the company’s stock worth $12,569,000 after acquiring an additional 91,081 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after acquiring an additional 48,949 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.
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.
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