Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $75.86.
A number of analysts recently commented on the company. Cowen lifted their price objective on Live Nation Entertainment from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 26th. Zacks Investment Research cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, May 5th. Wolfe Research started coverage on Live Nation Entertainment in a report on Wednesday, May 19th. They set an “outperform” rating and a $97.00 target price on the stock. Morgan Stanley raised their target price on Live Nation Entertainment from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 5th. Finally, Jefferies Financial Group upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $96.00 in a report on Monday, May 10th.
Shares of NYSE:LYV opened at $87.01 on Friday. Live Nation Entertainment has a twelve month low of $42.21 and a twelve month high of $94.63. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of -10.12 and a beta of 1.38. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a fifty day simple moving average of $85.01.
Institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its position in Live Nation Entertainment by 409.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 6,080 shares of the company’s stock valued at $515,000 after buying an additional 4,886 shares during the last quarter. Sirios Capital Management L P acquired a new stake in Live Nation Entertainment in the 4th quarter valued at approximately $5,220,000. Public Employees Retirement System of Ohio raised its position in Live Nation Entertainment by 23.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 73,655 shares of the company’s stock valued at $5,412,000 after buying an additional 14,148 shares during the last quarter. DnB Asset Management AS raised its position in Live Nation Entertainment by 96.7% in the 1st quarter. DnB Asset Management AS now owns 37,570 shares of the company’s stock valued at $3,180,000 after buying an additional 18,471 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Live Nation Entertainment by 2.8% during the 4th quarter. Xponance Inc. now owns 20,958 shares of the company’s stock worth $1,540,000 after purchasing an additional 580 shares during the last quarter. 71.66% of the stock is currently owned by institutional investors and hedge funds.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.
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