Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $119.46.

Several research analysts have weighed in on LYV shares. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Benchmark reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Insider Buying and Selling

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Mystic Asset Management Inc. lifted its position in Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after acquiring an additional 110 shares during the last quarter. Czech National Bank increased its position in shares of Live Nation Entertainment by 0.5% during the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Live Nation Entertainment by 44.1% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in shares of Live Nation Entertainment by 3.2% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after purchasing an additional 120 shares during the period. Finally, Baker Tilly Wealth Management LLC increased its position in Live Nation Entertainment by 5.4% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock worth $237,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 0.7 %

Shares of NYSE LYV opened at $103.64 on Monday. The company has a 50 day simple moving average of $95.64 and a 200-day simple moving average of $96.11. The company has a market capitalization of $23.81 billion, a P/E ratio of 98.70, a P/E/G ratio of 2.29 and a beta of 1.34. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. On average, equities research analysts predict that Live Nation Entertainment will post 1.21 earnings per share for the current year.

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.