Investors Buy High Volume of Live Nation Entertainment Put Options (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) was the recipient of unusually large options trading on Thursday. Traders purchased 7,833 put options on the stock. This is an increase of approximately 78% compared to the average daily volume of 4,398 put options.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LYV shares. Rosenblatt Securities upped their price target on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. TD Cowen reaffirmed a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Oppenheimer boosted their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was 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 of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its stake in shares of Live Nation Entertainment by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 12,446 shares of the company’s stock worth $1,034,000 after acquiring an additional 189 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Live Nation Entertainment by 2.9% during the third quarter. Daiwa Securities Group Inc. now owns 14,459 shares of the company’s stock worth $1,200,000 after acquiring an additional 411 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Live Nation Entertainment by 3.0% during the third quarter. California Public Employees Retirement System now owns 283,612 shares of the company’s stock worth $23,551,000 after acquiring an additional 8,153 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Live Nation Entertainment by 6.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,126 shares of the company’s stock worth $343,000 after acquiring an additional 267 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Live Nation Entertainment by 16.3% during the third quarter. Private Advisor Group LLC now owns 4,695 shares of the company’s stock worth $390,000 after acquiring an additional 658 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $93.48 on Friday. The stock’s fifty day moving average is $98.18 and its 200 day moving average is $93.30. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The firm has a market capitalization of $21.64 billion, a PE ratio of 89.03, a PEG ratio of 2.06 and a beta of 1.34. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92.

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

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.