Live Nation Entertainment (NYSE:LYV) Given New $180.00 Price Target at Moffett Nathanson

Live Nation Entertainment (NYSE:LYV) had its price objective trimmed by Moffett Nathanson from $185.00 to $180.00 in a research note released on Thursday,MarketScreener reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently commented on LYV. JPMorgan Chase & Co. decreased their target price on Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Citigroup lowered their target price on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Morgan Stanley cut their target price on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a research note on Friday, January 2nd. Finally, Roth Mkm lowered their price objective on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $172.55.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $8.94 during mid-day trading on Thursday, hitting $147.08. The company had a trading volume of 5,516,716 shares, compared to its average volume of 2,185,276. The company has a market capitalization of $34.52 billion, a P/E ratio of 106.58, a P/E/G ratio of 9.08 and a beta of 1.20. The stock’s 50 day moving average price is $139.73 and its 200-day moving average price is $150.16. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Seven Grand Managers LLC purchased a new position in shares of Live Nation Entertainment during the second quarter worth approximately $22,692,000. WT Wealth Management purchased a new position in Live Nation Entertainment in the third quarter valued at about $1,753,000. Signaturefd LLC grew its position in shares of Live Nation Entertainment by 25.3% in the 2nd quarter. Signaturefd LLC now owns 1,342 shares of the company’s stock worth $203,000 after buying an additional 271 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Live Nation Entertainment by 44.0% during the second quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock worth $3,407,000 after purchasing an additional 7,322 shares in the last quarter. Finally, L2 Asset Management LLC raised its stake in Live Nation Entertainment by 224.9% in the second quarter. L2 Asset Management LLC now owns 20,549 shares of the company’s stock valued at $3,109,000 after buying an additional 14,224 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.