Evercore ISI Increases Live Nation Entertainment (NYSE:LYV) Price Target to $150.00

Live Nation Entertainment (NYSE:LYV) had its price target increased by Evercore ISI from $110.00 to $150.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

LYV has been the topic of a number of other research reports. Roth Mkm lifted their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Macquarie raised their target price on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Bank of America assumed coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Oppenheimer raised their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $137.43.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $129.21 on Tuesday. The stock has a fifty day moving average price of $112.06 and a 200 day moving average price of $100.35. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76. The firm has a market capitalization of $30.02 billion, a P/E ratio of 137.46, a PEG ratio of 3.27 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Equities research analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now owns 15,128 shares in the company, valued at approximately $1,460,759.68. The trade was a 10.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The trade was a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock worth $17,097,016 over the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Select Equity Group L.P. lifted its stake in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares during the period. D1 Capital Partners L.P. boosted its stake in shares of Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares during the last quarter. Vulcan Value Partners LLC raised its stake in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after buying an additional 855,197 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Live Nation Entertainment by 85.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after buying an additional 476,981 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after acquiring an additional 387,008 shares during the last quarter. 74.52% of the stock is currently owned by 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.