Live Nation Entertainment (NYSE:LYV) Given New $146.00 Price Target at Macquarie

Live Nation Entertainment (NYSE:LYV) had its price target increased by research analysts at Macquarie from $130.00 to $146.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 13.18% from the company’s current price.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Oppenheimer raised their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. TD Cowen upped their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Guggenheim increased their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Benchmark lifted their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Stock Down 0.1 %

Shares of NYSE LYV opened at $129.00 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50-day moving average price of $112.78 and a 200 day moving average price of $100.70. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.83. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a price-to-earnings-growth ratio of 3.27 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. Equities research analysts anticipate that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Rapino sold 98,849 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 value of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock valued at $17,097,016 in the last quarter. 2.72% of the stock is currently owned by company insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors have recently made changes to their positions in LYV. Vanguard Group Inc. raised its position in shares of Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after buying an additional 110,097 shares during the period. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after purchasing an additional 155,920 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after purchasing an additional 87,032 shares during the period. Finally, Geode Capital Management LLC increased its position in Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.