Live Nation Entertainment, Inc. (NYSE:LYV)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a research note issued on Tuesday. They presently have a $33.00 target price on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 13.56% from the stock’s previous close.
Several other research firms have also recently commented on LYV. Zacks Investment Research cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, January 19th. Albert Fried & Company reaffirmed a “hold” rating on shares of Live Nation Entertainment in a research report on Wednesday, January 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $31.88.
Live Nation Entertainment (NYSE:LYV) opened at 29.06 on Tuesday. The firm’s market capitalization is $5.92 billion. Live Nation Entertainment has a 52-week low of $21.00 and a 52-week high of $30.79. The firm’s 50-day moving average is $28.85 and its 200 day moving average is $27.74.
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In other Live Nation Entertainment news, CEO Michael Rapino sold 140,000 shares of the business’s stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $27.38, for a total transaction of $3,833,200.00. Following the sale, the chief executive officer now directly owns 816,196 shares of the company’s stock, valued at approximately $22,347,446.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret L. Johnson sold 9,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $28.63, for a total transaction of $257,670.00. The disclosure for this sale can be found here. Insiders have sold a total of 989,000 shares of company stock worth $27,738,970 over the last three months. Insiders own 4.16% of the company’s stock.
A number of large investors have recently modified their holdings of LYV. Credit Agricole S A acquired a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $115,000. Creative Planning boosted its stake in shares of Live Nation Entertainment by 6.1% in the third quarter. Creative Planning now owns 4,334 shares of the company’s stock valued at $119,000 after buying an additional 249 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 179.4% in the third quarter. Riverhead Capital Management LLC now owns 5,900 shares of the company’s stock valued at $162,000 after buying an additional 3,788 shares during the period. Tyers Asset Management LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $175,000. Finally, PICTET BANK & TRUST Ltd acquired a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $203,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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