Live Nation Entertainment (NYSE:LYV) Shares Up 2.7% – Should You Buy?

Live Nation Entertainment, Inc. (NYSE:LYV) shares shot up 2.7% during mid-day trading on Monday . The stock traded as high as $128.02 and last traded at $128.44. 840,871 shares traded hands during trading, a decline of 62% from the average session volume of 2,195,854 shares. The stock had previously closed at $125.03.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Benchmark reiterated a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America lifted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Live Nation Entertainment Trading Up 1.0 %

The firm’s 50-day moving average price is $137.90 and its 200 day moving average price is $129.30. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 48.51, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock worth $1,120,177,000 after acquiring an additional 44,703 shares during the period. Principal Financial Group Inc. raised its stake in shares of Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after purchasing an additional 105,648 shares during the period. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after buying an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC raised its position in Live Nation Entertainment by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after acquiring an additional 108,293 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its position in shares of Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock valued at $415,447,000 after acquiring an additional 777,105 shares during the period. 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.