Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been assigned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $57.35.
LYV has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. ValuEngine upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Friday, October 12th. Finally, Macquarie restated a “buy” rating and set a $60.00 price objective on shares of Live Nation Entertainment in a report on Thursday, November 22nd.
NYSE LYV traded down $0.23 on Thursday, reaching $55.68. The company’s stock had a trading volume of 1,965,982 shares, compared to its average volume of 1,488,137. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of -116.00 and a beta of 0.99. Live Nation Entertainment has a twelve month low of $35.94 and a twelve month high of $58.26.
In other news, Director Robert Ted Enloe III sold 7,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $54.07, for a total value of $378,490.00. Following the transaction, the director now owns 17,508 shares in the company, valued at approximately $946,657.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 25,000 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $56.47, for a total value of $1,411,750.00. Following the completion of the transaction, the executive vice president now owns 191,237 shares in the company, valued at approximately $10,799,153.39. The disclosure for this sale can be found here. 5.19% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC increased its holdings in shares of Live Nation Entertainment by 2.0% in the 3rd quarter. Clearbridge Investments LLC now owns 3,095,226 shares of the company’s stock valued at $168,597,000 after purchasing an additional 60,304 shares during the period. Legal & General Group Plc grew its stake in shares of Live Nation Entertainment by 7.9% in the 3rd quarter. Legal & General Group Plc now owns 300,305 shares of the company’s stock valued at $16,358,000 after buying an additional 21,969 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Live Nation Entertainment by 12.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 432,974 shares of the company’s stock valued at $23,584,000 after buying an additional 49,251 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Live Nation Entertainment by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 32,765 shares of the company’s stock valued at $1,785,000 after buying an additional 1,831 shares in the last quarter. Finally, Putnam Investments LLC grew its stake in shares of Live Nation Entertainment by 3.9% in the 3rd quarter. Putnam Investments LLC now owns 3,199,691 shares of the company’s stock valued at $174,287,000 after buying an additional 118,989 shares in the last quarter. Institutional investors own 69.34% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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