Live Nation Entertainment, Inc. (NYSE:LYV)‘s stock had its “buy” rating reissued by equities research analysts at J P Morgan Chase & Co in a report released on Wednesday, October 18th.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Jefferies Group LLC restated a “buy” rating and issued a $42.00 target price on shares of Live Nation Entertainment in a report on Monday, October 16th. Stephens restated an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. William Blair initiated coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They issued an “outperform” rating on the stock. Finally, BidaskClub upgraded shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment presently has an average rating of “Buy” and a consensus target price of $40.86.
Live Nation Entertainment (NYSE:LYV) traded up 2.20% during trading on Wednesday, hitting $43.19. 1,287,546 shares of the company’s stock traded hands. The stock has a market cap of $8.85 billion, a P/E ratio of 6170.00 and a beta of 1.03. The company’s 50 day moving average is $42.55 and its 200-day moving average is $37.31. Live Nation Entertainment has a 12 month low of $26.41 and a 12 month high of $43.86.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment will post $0.21 earnings per share for the current year.
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In other Live Nation Entertainment news, Director Ariel Emanuel sold 10,000 shares of Live Nation Entertainment stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total value of $415,600.00. Following the sale, the director now directly owns 85,737 shares in the company, valued at approximately $3,563,229.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Capo sold 7,500 shares of Live Nation Entertainment stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the completion of the sale, the insider now owns 13,354 shares in the company, valued at $540,837. The disclosure for this sale can be found here. Insiders own 4.77% of the company’s stock.
Several large investors have recently modified their holdings of LYV. William Blair Investment Management LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth $109,693,000. Acadian Asset Management LLC grew its stake in shares of Live Nation Entertainment by 818.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,086,576 shares of the company’s stock worth $37,868,000 after buying an additional 968,217 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Live Nation Entertainment by 80.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,516,512 shares of the company’s stock worth $52,851,000 after buying an additional 678,283 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Live Nation Entertainment by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock worth $316,303,000 after buying an additional 517,577 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Live Nation Entertainment during the 2nd quarter worth about $15,519,000. 66.14% of the stock is owned by institutional investors and hedge funds.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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