Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $56.79.
Several analysts have recently issued reports on LYV shares. Guggenheim reissued a “buy” rating and set a $55.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 13th. ValuEngine cut shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. Stephens set a $60.00 price objective on shares of Live Nation Entertainment and gave the company a “buy” rating in a research note on Friday, July 27th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, July 27th.
Shares of Live Nation Entertainment stock traded up $0.97 during trading on Friday, hitting $56.37. 13,754 shares of the company were exchanged, compared to its average volume of 1,234,208. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $11.47 billion, a P/E ratio of -115.42 and a beta of 0.99. Live Nation Entertainment has a fifty-two week low of $35.94 and a fifty-two week high of $58.26.
In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $48.41, for a total value of $968,200.00. Following the transaction, the chief financial officer now owns 259,338 shares in the company, valued at approximately $12,554,552.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Joe Berchtold sold 40,000 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $48.70, for a total transaction of $1,948,000.00. Following the completion of the transaction, the president now owns 148,409 shares in the company, valued at approximately $7,227,518.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,000 shares of company stock valued at $11,197,690. 5.19% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of LYV. Select Equity Group L.P. acquired a new position in Live Nation Entertainment in the 2nd quarter worth $216,729,000. Canada Pension Plan Investment Board raised its stake in Live Nation Entertainment by 27.5% during the second quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock worth $471,581,000 after acquiring an additional 2,096,500 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in Live Nation Entertainment by 71.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 739,054 shares of the company’s stock worth $35,896,000 after acquiring an additional 309,097 shares during the period. CIBC Private Wealth Group LLC raised its stake in Live Nation Entertainment by 64.7% during the second quarter. CIBC Private Wealth Group LLC now owns 670,765 shares of the company’s stock worth $32,580,000 after acquiring an additional 263,463 shares during the period. Finally, Engineers Gate Manager LP raised its stake in Live Nation Entertainment by 395.4% during the third quarter. Engineers Gate Manager LP now owns 173,934 shares of the company’s stock worth $9,474,000 after acquiring an additional 138,825 shares during the period. Hedge funds and other institutional investors own 69.56% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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