Live Nation Entertainment (NYSE:LYV) Receives Buy Rating from Rosenblatt Securities

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $174.00 target price on the stock. Rosenblatt Securities’ price target indicates a potential upside of 33.12% from the stock’s previous close.

LYV has been the subject of several other research reports. Guggenheim raised their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Roth Mkm raised their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price objective 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.13.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $130.71 on Tuesday. Live Nation Entertainment has a 52-week low of $86.81 and a 52-week high of $157.75. The stock’s 50-day moving average price is $138.04 and its 200 day moving average price is $129.07. 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 stock has a market capitalization of $30.51 billion, a PE ratio of 48.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, equities research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now owns 52,624 shares in the company, 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. Insiders have sold 68,702 shares of company stock worth $10,497,143 in the last three months. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $832,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $8,865,000. Mackenzie Financial Corp raised its holdings in Live Nation Entertainment by 655.9% in the 4th quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock valued at $11,761,000 after acquiring an additional 78,807 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $9,449,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $102,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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.