Live Nation Entertainment (NYSE:LYV) lifted to buy on StockNews.com

Live Nation Entertainment (NYSE:LYV – Get Rated) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research companies have also recently been involved in LYV. Benchmark raised its price target on Live Nation Entertainment stock to $140.00 in a report on Monday, August 15. Guggenheim cut Live Nation Entertainment’s share price target from $140.00 to $120.00 and set a “buy” rating on the company in a report Friday. TheStreet upgraded Live Nation Entertainment’s stock from a “d+” rating to a “c-” rating in a report on Wednesday, August 10. Macquarie upgraded Live Nation Entertainment’s stock from a “neutral” rating to an “outperform” rating and lowered the price target for the company from $117.00 to $105.00 in a research report Tuesday, July 5. Ultimately, Citigroup raised its price target on Live Nation Entertainment stock from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, August 8. Two analysts have given the stock a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Live Nation Entertainment shares fell 0.7%

Shares of Live Nation Entertainment were down $0.55 during trading hours on Monday, settling at $78.06. The stock had a trading volume of 852,483 shares, compared to its average volume of 2,010,969. The company has a quick ratio of 0.99, a current ratio of 0.99, and a debt-to-equity ratio of 146.87. The stock has a market capitalization of $17.95 billion, a P/E ratio of -156.12, and a beta of 1.34. Live Nation Entertainment has a 12-month minimum of $73.35 and a 12-month maximum of $127.75. The stock’s 50-day moving average price is $89.00 and its 200-day moving average price is $93.14.

Live Nation Entertainment (NYSE:LYV – Get Rating) last issued its earnings results on Thursday, August 4. The company reported earnings per share (EPS) of $0.66 for the quarter, beating the consensus estimate of $0.53 by $0.13. The firm had revenue of $4.43 billion for the quarter, compared to analyst expectations of $3.92 billion. The company’s quarterly revenue increased 669.9% year over year. During the same period last year, the company posted ($0.90) earnings per share. Stock research analysts anticipate Live Nation Entertainment to post 0.53 EPS for the current fiscal year.

Insiders place their bets

In other Live Nation Entertainment news, CEO Michael Rapino sold 78,000 shares of the company in a transaction that occurred on Friday, September 23. The shares were sold at an average price of $74.41, for a total value of $5,803,980.00. Following the completion of the transaction, the CEO now directly owns 3,799,273 shares of the company, valued at $282,703,903.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. In related news, CEO Michael Rapino sold 78,000 shares of the company in a transaction on Friday, September 23. The shares were sold at an average price of $74.41, for a total transaction of $5,803,980.00. Following the completion of the transaction, the CEO now owns 3,799,273 shares of the company, valued at $282,703,903.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Additionally, director Jeffrey T. Hinson sold 500 shares of the company in a transaction on Tuesday, August 16. The shares were sold at an average price of $99.42, for a total transaction of $49,710.00. Following the transaction, the director now owns 60,531 shares of the company, valued at approximately $6,017,992.02. Disclosure of this sale can be found here. Insiders sold a total of 312,500 shares of the company worth $26,690,610 in the last three months. Currently, 4.01% of the shares are owned by insiders of the company.

Hedge funds weigh on Live Nation Entertainment

Hedge funds and other institutional investors have recently changed their stock holdings. First Horizon Advisors Inc. increased its stake in Live Nation Entertainment by 505.9% during the first quarter. First Horizon Advisors Inc. now owns 206 shares of the company valued at $25,000 after buying an additional 172 shares last quarter. Fieldpoint Private Securities LLC increased its stake in Live Nation Entertainment by 357.1% during the second quarter. Fieldpoint Private Securities LLC now owns 320 shares of the company valued at $26,000 after purchasing an additional 250 shares last quarter. Tortoise Investment Management LLC increased its stake in Live Nation Entertainment by 274.4% during the second quarter. Tortoise Investment Management LLC now owns 337 shares of the company valued at $28,000 after purchasing an additional 247 shares last quarter. SOA Wealth Advisors LLC. increased its stake in Live Nation Entertainment by 689.6% during the third quarter. SOA Wealth Advisors LLC. he now owns 379 shares of the company valued at $28,000 after buying an additional 331 shares last quarter. Finally, CX Institutional purchased a new stake in Live Nation Entertainment during the second quarter valued at $31,000. Institutional investors own 71.08% of the company’s shares.

Live Nation Entertainment Company Profile

(Get rating)

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through the concert, ticket sales and sponsorship and advertising segments. The Concerts segment promotes live music events at its own or operated venues, and at venues rented from third parties; operates and manages music venues; produces music festivals; create associated content; and offers management and other services to artists.

See also

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

This instant news alert was powered by MarketBeat’s financial data and narrative science technology to provide readers with the fastest and most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Before you consider Live Nation Entertainment, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market realizes it…and Live Nation Entertainment wasn’t on the list.

While Live Nation Entertainment currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Leave a Comment