Live Nation Entertainment (NYSE:LYV) Receives New Coverage from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Live Nation Entertainment (NYSE:LYV) in a report released on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $120.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 33.91% from the stock’s previous close.

LYV has been the topic of several other research reports. Roth Mkm reiterated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. TD Cowen reiterated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. 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. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Finally, Rosenblatt Securities lowered their price objective on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.64.

Live Nation Entertainment Stock Down 1.0 %

Shares of LYV stock traded down $0.93 during mid-day trading on Tuesday, hitting $89.61. The stock had a trading volume of 628,222 shares, compared to its average volume of 2,244,091. The firm has a market capitalization of $20.68 billion, a P/E ratio of 67.31 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment has a 12-month low of $66.38 and a 12-month high of $107.24. The firm’s 50-day moving average is $98.82 and its two-hundred day moving average is $91.62.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations 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 predict that Live Nation Entertainment will post 1.62 earnings per share for the current fiscal year.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently made changes to their positions in the business. Bank of Nova Scotia increased its stake in shares of Live Nation Entertainment by 6.9% during the third quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock worth $46,566,000 after buying an additional 36,298 shares during the period. Bank of New Hampshire acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $1,735,000. Allspring Global Investments Holdings LLC lifted its position in shares of Live Nation Entertainment by 13.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 567,995 shares of the company’s stock worth $53,164,000 after buying an additional 66,390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Live Nation Entertainment by 77.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,198 shares of the company’s stock valued at $3,201,000 after buying an additional 14,928 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth $1,151,000. 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.