Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Posted by on Jun 6th, 2023

Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) has earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $96.50.

Several research firms recently weighed in on LYV. Roth Mkm began coverage on shares of Live Nation Entertainment in a research report on Wednesday, March 22nd. They set a “neutral” rating and a $72.00 price objective for the company. StockNews.com began coverage on shares of Live Nation Entertainment in a report on Thursday, May 18th. They issued a “hold” rating for the company. Roth Capital initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, March 22nd. They issued a “neutral” rating for the company. Citigroup upped their price objective on Live Nation Entertainment from $82.00 to $89.00 in a research note on Tuesday, May 9th. Finally, TheStreet downgraded Live Nation Entertainment from a “c-” rating to a “d+” rating in a research note on Friday, March 3rd.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 100,000 shares of Live Nation Entertainment stock in a transaction on Monday, May 8th. The stock was sold at an average price of $78.00, for a total transaction of $7,800,000.00. Following the sale, the executive vice president now directly owns 157,786 shares in the company, valued at approximately $12,307,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Live Nation Entertainment by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company’s stock worth $2,126,000 after purchasing an additional 1,120 shares in the last quarter. Raymond James Trust N.A. lifted its position in Live Nation Entertainment by 4.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock worth $369,000 after buying an additional 130 shares during the last quarter. Cibc World Market Inc. bought a new stake in Live Nation Entertainment in the first quarter valued at approximately $421,000. Vontobel Holding Ltd. lifted its position in Live Nation Entertainment by 31.0% in the first quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company’s stock valued at $279,000 after purchasing an additional 559 shares during the last quarter. Finally, Prudential PLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $294,000. Hedge funds and other institutional investors own 69.90% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV opened at $82.49 on Tuesday. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 116.18 and a beta of 1.28. Live Nation Entertainment has a 1-year low of $64.25 and a 1-year high of $99.66. The company’s fifty day simple moving average is $73.88 and its 200 day simple moving average is $73.01. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 82.73.

About Live Nation Entertainment

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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.

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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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