Live Nation Entertainment (NYSE:LYV) Earns Buy Rating from Analysts at Bank of America

Bank of America started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $125.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Oppenheimer restated an outperform rating and issued a $110.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Northcoast Research lowered shares of Live Nation Entertainment from a buy rating to a neutral rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, Roth Mkm reiterated a buy rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Friday, May 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $118.69.

Live Nation Entertainment Stock Down 0.1 %

Shares of NYSE:LYV opened at $95.26 on Wednesday. The firm has a fifty day moving average price of $94.68 and a two-hundred day moving average price of $95.78. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 90.72, a PEG ratio of 2.20 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 one year low of $76.48 and a one year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. Live Nation Entertainment’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. Analysts anticipate that Live Nation Entertainment will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The disclosure for this sale can be found here. Insiders have sold 8,201 shares of company stock valued at $788,464 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment in the 1st quarter worth $32,000. Rise Advisors LLC lifted its holdings in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after buying an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares in the last quarter. 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.