Stock researchers from Redburn Partners undertook coverage of shares of Live Nation Entertainment (NYSE:LYV – Get Rating) in a report published on Tuesday, The Fly reports. The company gave the stock a “neutral” rating.
Several other research analysts also rated the stock. Benchmark raised its target price on Live Nation Entertainment shares to $140.00 in a report on Monday, August 15. Goldman Sachs Group has lowered its target price on Live Nation Entertainment from $130.00 to $112.00 and gave the company a buy rating in a report dated Friday, November 4th. TheStreet upgraded Live Nation Entertainment from a “d+” rating to a “c-” rating in a research report on Wednesday, August 10. Guggenheim lowered its price target on Live Nation Entertainment to $120.00 from $140.00 and gave the stock a buy rating in a research report on Friday, October 7th. Finally, in a report Wednesday, October 19, StockNews.com upgraded Live Nation Entertainment’s stock to a “buy” rating from a “hold” rating. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.50.
Live Nation Entertainment shares are up 1.1%
LYV stock opened at $66.94 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt to equity ratio of 12.85. The company has a 50-day simple moving average of $78.15 and a 200-day simple moving average of $86.02. The company has a market cap of $15.46 billion, a P/E of 95.63 and a beta of 1.31. Live Nation Entertainment has a 12-month low of $65.05 and a 12-month high of $126.79.
Insiders place their bets
In other news from Live Nation Entertainment, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction Thursday, September 15. The shares were sold at an average price of $92.66 for a total transaction of $7,227,480.00. Upon completion of the sale, the Chief Executive Officer now directly owns 3,711,273 shares of the Company, valued at $343,886,556.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission available at this link. Over the past 90 days, insiders sold 312,000 shares of the company’s stock valued at $26,640,900. Insiders own 4.01% of the company’s stock.
Institutional trading by Live Nation Entertainment
Hedge funds and other institutional investors recently changed their holdings in the company. CIBC Asset Management Inc increased its stake in Live Nation Entertainment by 0.8% during the first quarter. CIBC Asset Management Inc now owns 16,261 shares of the company’s stock valued at $1,913,000 after purchasing an additional 130 shares during the period. Raymond James Trust NA increased its stake in Live Nation Entertainment by 4.3% during the first quarter. Raymond James Trust NA now owns 3,139 shares of the company valued at $369,000 after purchasing an additional 130 shares last quarter. Industrial Alliance Investment Management Inc. increased its stake in Live Nation Entertainment stock by 21.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 746 shares of the company’s stock valued at $88,000 after purchasing an additional 132 shares last quarter. Parkside Financial Bank & Trust increased its stake in Live Nation Entertainment by 32.8% in the second quarter. Parkside Financial Bank & Trust now owns 551 shares of the company, valued at $46,000, after purchasing an additional 136 shares last quarter. Finally, Quadrant Capital Group LLC increased its position in Live Nation Entertainment by 16.9% during the first quarter. Quadrant Capital Group LLC now owns 963 shares of the company’s stock valued at $113,000 after purchasing an additional 139 shares last quarter. Institutional investors and hedge funds own 71.08% of the company’s shares.
Company Profile of Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through the concerts, ticketing, and sponsorship and advertising segments. The Concerts segment promotes live music events in owned or operated venues as well as in rented third-party venues; operates and manages music venues; produces music festivals; creates related content; and provides artists with management and other services.
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