Live Nation Entertainment (NYSE:LYV) Price Target Raised to $146.00 at Guggenheim

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Guggenheim from $130.00 to $146.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on LYV. Oppenheimer raised their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI lifted their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen raised their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Macquarie increased their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Live Nation Entertainment Trading Down 0.1 %

Live Nation Entertainment stock opened at $129.00 on Tuesday. The business’s 50-day simple moving average is $112.78 and its 200-day simple moving average is $100.62. The firm has a market capitalization of $29.97 billion, a PE ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.83.

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

Insider Activity

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction dated Tuesday, August 20th. The stock was 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 of the company’s stock, valued at $1,460,759.68. This trade represents a 10.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock worth $17,097,016 in the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of LYV. Vanguard Group Inc. raised its holdings in shares of Live Nation Entertainment by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after purchasing an additional 110,097 shares during the last quarter. Select Equity Group L.P. grew its position in Live Nation Entertainment by 12.3% in 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 purchasing an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after buying an additional 155,920 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after buying an additional 87,032 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after acquiring an additional 321,832 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.