Live Nation Entertainment (NYSE:LYV) Hits New 1-Year High – Here’s Why

Live Nation Entertainment, Inc. (NYSE:LYV) reached a new 52-week high during trading on Monday . The stock traded as high as $141.24 and last traded at $141.24, with a volume of 1477 shares changing hands. The stock had previously closed at $140.29.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LYV. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Macquarie increased their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Roth Mkm lifted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.53.

Live Nation Entertainment Price Performance

The stock has a market cap of $32.62 billion, a PE ratio of 149.24, a P/E/G ratio of 3.80 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average price is $116.74 and its two-hundred day moving average price is $102.27.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 77.62% and a net margin of 2.11%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the sale, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,799 shares of company stock worth $16,449,718. Insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $748,000. Select Equity Group L.P. grew its holdings in shares of 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. Davidson Kempner Capital Management LP purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth $3,985,000. Czech National Bank increased its position in Live Nation Entertainment by 17.5% during the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after acquiring an additional 4,761 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in Live Nation Entertainment by 48.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after purchasing an additional 16,668 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.