Live Nation Entertainment (NYSE:LYV) Stock Price Up 2.7% – Here’s What Happened

Live Nation Entertainment, Inc. (NYSE:LYV) traded up 2.7% on Monday . The stock traded as high as $128.02 and last traded at $128.44. 840,871 shares were traded during trading, a decline of 62% from the average session volume of 2,195,854 shares. The stock had previously closed at $125.03.

Wall Street Analyst Weigh In

LYV has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Trading Up 4.5 %

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 48.05, a PEG ratio of 1.81 and a beta of 1.38. The firm has a 50-day moving average price of $138.14 and a 200-day moving average price of $128.84.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

Several large investors have recently added to or reduced their stakes in LYV. Smartleaf Asset Management LLC grew its holdings in shares of Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after buying an additional 75 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP lifted its position in shares of Live Nation Entertainment by 10.4% in the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after purchasing an additional 82 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after purchasing an additional 93 shares during the period. Finally, Gilbert & Cook Inc. lifted its position in Live Nation Entertainment by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after buying an additional 93 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

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.