Live Nation Entertainment (NYSE:LYV) Price Target Lowered to $110.00 at Oppenheimer

Live Nation Entertainment (NYSE:LYV) had its price objective dropped by equities researchers at Oppenheimer from $120.00 to $110.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 17.67% from the company’s previous close.

A number of other equities research analysts have also recently commented on LYV. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Roth Mkm reaffirmed a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Redburn Atlantic raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, TD Cowen reaffirmed a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.42.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $93.48 on Friday. The company has a 50-day simple moving average of $98.18 and a 200-day simple moving average of $93.30. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The company has a market capitalization of $21.64 billion, a PE ratio of 89.03, a P/E/G ratio of 2.05 and a beta of 1.34. Live Nation Entertainment has a 52-week low of $76.48 and a 52-week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.25) EPS. Equities research analysts predict that Live Nation Entertainment will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

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 transaction, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Plato Investment Management Ltd raised its holdings in Live Nation Entertainment by 3,291.8% in the first quarter. Plato Investment Management Ltd now owns 5,359 shares of the company’s stock valued at $567,000 after buying an additional 5,201 shares during the period. Western Pacific Wealth Management LP raised its holdings in Live Nation Entertainment by 14.7% in the first quarter. Western Pacific Wealth Management LP now owns 1,125 shares of the company’s stock valued at $119,000 after buying an additional 144 shares during the period. iA Global Asset Management Inc. purchased a new position in Live Nation Entertainment in the first quarter valued at approximately $609,000. Tidal Investments LLC raised its stake in shares of Live Nation Entertainment by 81.5% during the first quarter. Tidal Investments LLC now owns 22,354 shares of the company’s stock valued at $2,364,000 after purchasing an additional 10,040 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Live Nation Entertainment by 0.9% during the first quarter. California State Teachers Retirement System now owns 257,860 shares of the company’s stock valued at $27,274,000 after purchasing an additional 2,308 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.