Guggenheim Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective hoisted by Guggenheim from $130.00 to $146.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 14.98% from the stock’s current price.

A number of other research firms also recently issued reports on LYV. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Roth Mkm upped 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. Bank of America assumed coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target on the stock. Macquarie upped their price objective on 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, Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.71.

Live Nation Entertainment Stock Down 2.1 %

Shares of Live Nation Entertainment stock opened at $126.98 on Tuesday. The business has a 50-day moving average price of $111.36 and a 200 day moving average price of $100.15. Live Nation Entertainment has a fifty-two week low of $81.38 and a fifty-two week high of $130.76. The firm has a market cap of $29.25 billion, a P/E ratio of 135.09, a P/E/G ratio of 3.15 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the business earned $1.78 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Live Nation Entertainment will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 over the last quarter. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after acquiring an additional 110,097 shares during the last quarter. Select Equity Group L.P. boosted its position 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 valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board raised its holdings 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 during the period. Principal Financial Group Inc. lifted its stake in Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares in the last quarter. Finally, D1 Capital Partners L.P. boosted its holdings in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares during the period. 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.