Live Nation Entertainment’s (LYV) “Buy” Rating Reiterated at Benchmark

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reaffirmed by Benchmark in a report released on Tuesday,Benzinga reports. They currently have a $178.00 price target on the stock. Benchmark’s target price indicates a potential upside of 36.98% from the company’s current price.

Several other analysts also recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $174.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Guggenheim increased their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Bank of America upped their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Macquarie boosted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.33.

Live Nation Entertainment Stock Down 0.5 %

LYV traded down $0.63 during trading hours on Tuesday, hitting $129.95. 606,261 shares of the company’s stock were exchanged, compared to its average volume of 2,218,011. The firm has a market cap of $30.33 billion, a P/E ratio of 47.77, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50 day moving average of $138.04 and a 200 day moving average of $129.07.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Analysts predict that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last 90 days. 2.72% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the 4th quarter worth about $29,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth $40,000. Golden State Wealth Management LLC acquired a new position in Live Nation Entertainment during the fourth quarter worth $42,000. Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at approximately $44,000. Finally, Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $45,000. 74.52% of the stock is currently owned by 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.