Rosenblatt Securities Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $122.00

Live Nation Entertainment (NYSE:LYV) had its price objective upped by Rosenblatt Securities from $119.00 to $122.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen reiterated a buy rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Roth Capital upgraded shares of Live Nation Entertainment from a neutral rating to a buy rating in a research note on Thursday, January 11th. Oppenheimer raised 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 note on Wednesday, February 21st. Roth Mkm restated a buy rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target 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 analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $117.00.

Live Nation Entertainment Trading Up 1.3 %

LYV stock opened at $95.89 on Friday. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50-day simple moving average is $98.60 and its 200 day simple moving average is $91.79. Live Nation Entertainment has a 52 week low of $76.48 and a 52 week high of $107.24. The company has a market capitalization of $22.19 billion, a PE ratio of 91.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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 firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.25) earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Activity 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 completion of the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LYV. Creative Financial Designs Inc. ADV raised its holdings in Live Nation Entertainment by 148.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment during the 1st quarter worth approximately $32,000. Raleigh Capital Management Inc. bought a new position in Live Nation Entertainment during the 3rd quarter worth approximately $33,000. Rise Advisors LLC raised its holdings in Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Live Nation Entertainment by 9,800.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after purchasing an additional 490 shares during the last quarter. 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.