Live Nation Entertainment (NYSE:LYV) Reaches New 1-Year High – Time to Buy?

Live Nation Entertainment, Inc. (NYSE:LYV) reached a new 52-week high on Wednesday . The company traded as high as $184.86 and last traded at $183.2360, with a volume of 4980929 shares traded. The stock had previously closed at $182.56.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Wolfe Research upped their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. Rothschild & Co Redburn boosted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Live Nation Entertainment Trading Up 0.4%

The firm has a market cap of $43.16 billion, a P/E ratio of -103.52 and a beta of 1.12. The stock has a 50 day simple moving average of $165.99 and a 200-day simple moving average of $156.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last posted its 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). 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 for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its position in shares of Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after buying an additional 75 shares during the period. Vident Advisory LLC raised its holdings in shares of Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. lifted its stake in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after acquiring an additional 80 shares during the last quarter. Sumitomo Life Insurance Co. boosted its holdings in Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares during the period. Finally, Ameriflex Group Inc. grew its position in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares during 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 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.