Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Price Target at $187.75

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $188.50.

LYV has been the topic of several recent research reports. Rothschild & Co Redburn raised their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Evercore reaffirmed an “outperform” rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Guggenheim raised their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th.

Insider Activity

In other news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Empowered Funds LLC boosted its stake in Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after acquiring an additional 109 shares during the last quarter. Cerity Partners LLC boosted its stake in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after acquiring an additional 1,711 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.0%

Shares of NYSE:LYV opened at $172.35 on Wednesday. Live Nation Entertainment has a 12 month low of $125.34 and a 12 month high of $175.25. The company’s 50-day moving average price is $162.57 and its two-hundred day moving average price is $152.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a market cap of $40.60 billion, a P/E ratio of -97.37 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company earned ($0.32) EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that Live Nation Entertainment will post 1.09 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.