Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Live Nation Entertainment (NYSE:LYV) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $180.00 to $205.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.14% from the company’s previous close.

A number of other research analysts also recently weighed in on LYV. Wells Fargo & Company raised their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citizens Jmp initiated coverage on Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 target price for the company. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, UBS Group upped their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday. Nineteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Live Nation Entertainment Trading Up 0.1%

Shares of NYSE:LYV opened at $178.05 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market capitalization of $41.94 billion, a PE ratio of -100.59 and a beta of 1.11. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year high of $188.00. The firm has a fifty day moving average price of $173.20 and a 200 day moving average price of $160.74.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. Analysts expect that Live Nation Entertainment will post 0.96 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred 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 sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% 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

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after purchasing an additional 193,104 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares during the last quarter. Jericho Capital Asset Management L.P. increased its position in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after purchasing an additional 123,800 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.