Live Nation Entertainment (NYSE:LYV) Sets New 1-Year High at $107.24

Live Nation Entertainment, Inc. (NYSE:LYV) reached a new 52-week high on Thursday . The company traded as high as $107.24 and last traded at $106.78, with a volume of 16390 shares. The stock had previously closed at $106.81.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYV. Rosenblatt Securities raised their price target on shares of Live Nation Entertainment from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Finally, Roth Mkm upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $114.00 in a report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.40.

Live Nation Entertainment Stock Down 0.3 %

The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $95.22 and its two-hundred day simple moving average is $89.30. The firm has a market cap of $24.57 billion, a P/E ratio of 80.31 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Live Nation Entertainment by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company’s stock worth $2,126,000 after acquiring an additional 1,120 shares during the period. Raymond James Trust N.A. lifted its holdings in Live Nation Entertainment by 4.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock worth $369,000 after purchasing an additional 130 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Live Nation Entertainment during the 1st quarter valued at approximately $421,000. Vontobel Holding Ltd. lifted its holdings in shares of Live Nation Entertainment by 31.0% in the first quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company’s stock worth $279,000 after buying an additional 559 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of Live Nation Entertainment during the first quarter worth $294,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.