Live Nation Entertainment (NYSE:LYV) Price Target Raised to $145.00

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by TD Cowen from $108.00 to $145.00 in a report issued on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

LYV has been the subject of a number of other research reports. Bank of America started coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Deutsche Bank Aktiengesellschaft raised 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. Evercore ISI boosted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday. Macquarie increased their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Oppenheimer upped their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $129.00 on Tuesday. The stock has a market cap of $29.97 billion, a price-to-earnings ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. The stock’s 50-day moving average is $112.78 and its 200 day moving average is $100.62. 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 1-year low of $81.38 and a 1-year high of $130.83.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, sell-side analysts anticipate that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The trade was a 28.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last quarter. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of LYV. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $41,000. Morse Asset Management Inc purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at $42,000. Finally, Cromwell Holdings LLC boosted its stake in shares of Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.