Live Nation Entertainment (NYSE:LYV) had its price target lifted by JPMorgan Chase & Co. from $53.00 to $60.00 in a research note released on Friday. They currently have an overweight rating on the stock.
Several other equities analysts have also recently weighed in on LYV. ValuEngine cut Live Nation Entertainment from a strong-buy rating to a buy rating in a research report on Saturday, July 28th. Goldman Sachs Group lifted their price target on Live Nation Entertainment from $50.00 to $56.00 and gave the company a buy rating in a research report on Tuesday, July 24th. Zacks Investment Research cut Live Nation Entertainment from a hold rating to a sell rating in a research report on Wednesday, July 11th. Stephens set a $60.00 price objective on Live Nation Entertainment and gave the company a buy rating in a research note on Friday, July 27th. They noted that the move was a valuation call. Finally, Northcoast Research lowered Live Nation Entertainment from a buy rating to a neutral rating in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $56.79.
Shares of NYSE LYV traded up $1.66 during mid-day trading on Friday, hitting $54.85. The company had a trading volume of 2,077,187 shares, compared to its average volume of 1,209,596. Live Nation Entertainment has a 1 year low of $35.94 and a 1 year high of $58.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.95.
Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Live Nation Entertainment’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, sell-side analysts forecast that Live Nation Entertainment will post 0.01 earnings per share for the current fiscal year.
In related news, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total transaction of $988,800.00. Following the completion of the sale, the chief financial officer now owns 299,338 shares of the company’s stock, valued at $14,799,270.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Joe Berchtold sold 40,000 shares of Live Nation Entertainment stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $49.48, for a total value of $1,979,200.00. Following the sale, the president now directly owns 148,409 shares of the company’s stock, valued at approximately $7,343,277.32. The disclosure for this sale can be found here. Insiders have sold 247,000 shares of company stock valued at $12,186,490 in the last three months. 5.19% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of LYV. Select Equity Group L.P. bought a new stake in Live Nation Entertainment during the second quarter valued at $216,729,000. Canada Pension Plan Investment Board lifted its stake in Live Nation Entertainment by 27.5% during the second quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock worth $471,581,000 after purchasing an additional 2,096,500 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Live Nation Entertainment by 71.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 739,054 shares of the company’s stock worth $35,896,000 after purchasing an additional 309,097 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Live Nation Entertainment by 64.7% during the second quarter. CIBC Private Wealth Group LLC now owns 670,765 shares of the company’s stock worth $32,580,000 after purchasing an additional 263,463 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its stake in Live Nation Entertainment by 395.4% during the third quarter. Engineers Gate Manager LP now owns 173,934 shares of the company’s stock worth $9,474,000 after purchasing an additional 138,825 shares during the last quarter. 69.69% of the stock is owned by institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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