Rosenblatt Securities Lowers Live Nation Entertainment (NYSE:LYV) Price Target to $119.00

Live Nation Entertainment (NYSE:LYV) had its target price dropped by stock analysts at Rosenblatt Securities from $124.00 to $119.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 17.78% from the company’s previous close.

LYV has been the subject of a number of other research reports. Morgan Stanley lifted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Roth Mkm upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Friday, January 12th. Oppenheimer increased their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upped 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. One equities research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $115.90.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $101.04 on Thursday. Live Nation Entertainment has a twelve month low of $64.96 and a twelve month high of $107.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 75.97 and a beta of 1.30. The stock has a fifty day simple moving average of $98.57 and a 200 day simple moving average of $91.03.

Live Nation Entertainment (NYSE:LYV) last issued 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 firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. Sell-side analysts expect that Live Nation Entertainment will post 1.63 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following 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 Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Live Nation Entertainment by 2.1% in the first quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock worth $1,823,315,000 after buying an additional 317,335 shares in the last quarter. Select Equity Group L.P. increased its holdings in shares of Live Nation Entertainment by 8.1% in the 1st quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock worth $805,849,000 after buying an additional 862,050 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Live Nation Entertainment by 5.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after buying an additional 429,650 shares in the last quarter. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock worth $590,301,000 after acquiring an additional 33,215 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Live Nation Entertainment by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock valued at $460,733,000 after purchasing an additional 323,756 shares during the period. Institutional investors 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.