The Goldman Sachs Group Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $148.00

Live Nation Entertainment (NYSE:LYV) had its target price upped by stock analysts at The Goldman Sachs Group from $132.00 to $148.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 14.14% from the stock’s previous close.

Several other research firms have also commented on LYV. StockNews.com lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Guggenheim lifted their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Benchmark lifted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI lifted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.71.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $129.67 on Wednesday. The firm has a 50-day moving average of $110.72 and a 200-day moving average of $99.96. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $29.87 billion, a PE ratio of 137.95, a P/E/G ratio of 3.05 and a beta of 1.33. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76.

Live Nation Entertainment (NYSE:LYV) last issued 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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 91.89%. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Live Nation Entertainment will post 1.16 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction of $164,248.56. Following the transaction, the director now owns 15,128 shares in the company, valued at $1,460,759.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $748,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Live Nation Entertainment by 22.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock worth $10,873,000 after acquiring an additional 18,931 shares in the last quarter. Select Equity Group L.P. grew its stake in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $3,985,000. Institutional investors and hedge funds 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.