Live Nation Entertainment’s (LYV) “Buy” Rating Reiterated at Roth Mkm

Roth Mkm reissued their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note released on Tuesday, Benzinga reports. They currently have a $120.00 target price on the stock.

A number of other analysts have also issued reports on LYV. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an overweight rating in a research note on Friday, February 23rd. TD Cowen reiterated a buy rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Rosenblatt Securities dropped their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a buy rating on the stock in a research note on Thursday, April 11th. Finally, Roth Capital upgraded shares of Live Nation Entertainment from a neutral rating to a buy rating in a research note on Thursday, January 11th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $116.30.

Live Nation Entertainment Trading Down 1.3 %

Shares of LYV stock opened at $88.49 on Tuesday. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 66.53 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment has a fifty-two week low of $64.96 and a fifty-two week high of $107.24. The firm’s 50 day moving average price is $98.94 and its two-hundred day moving average price is $91.50.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. On average, analysts anticipate that Live Nation Entertainment will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction 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 completion of the transaction, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of LYV. Norges Bank acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at $248,139,000. Cantillon Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 146.6% during the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock valued at $257,101,000 after acquiring an additional 1,632,749 shares during the period. Findlay Park Partners LLP boosted its holdings in shares of Live Nation Entertainment by 55.1% during the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after acquiring an additional 1,087,264 shares during the period. Jericho Capital Asset Management L.P. boosted its holdings in shares of Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after acquiring an additional 726,000 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Live Nation Entertainment by 104.2% during the fourth quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after acquiring an additional 606,743 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.