Live Nation Entertainment (NYSE:LYV) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $109.46 and traded as high as $132.14. Live Nation Entertainment shares last traded at $131.01, with a volume of 1,070,020 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LYV shares. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Bank of America upped their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup lifted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Roth Mkm lifted their price target on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Down 0.6 %

The company has a market cap of $30.44 billion, a PE ratio of 139.37, a PEG ratio of 3.68 and a beta of 1.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s fifty day moving average is $129.79 and its 200-day moving average is $109.46.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently made changes to their positions in the business. Cromwell Holdings LLC grew its position in Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares during the period. Private Advisor Group LLC grew its position in shares of Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after acquiring an additional 89 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Live Nation Entertainment by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares in the last quarter. Empirical Finance LLC lifted its position in Live Nation Entertainment by 2.3% during the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after purchasing an additional 105 shares in the last quarter. Finally, Mystic Asset Management Inc. grew its holdings in Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares during the period. 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.