Live Nation Entertainment, Inc. (NYSE:LYV) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.76 and last traded at $44.93, with a volume of 1172300 shares trading hands. The stock had previously closed at $44.77.
LYV has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a report on Monday, October 16th. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, October 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Macquarie reiterated a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Finally, William Blair began coverage on shares of Live Nation Entertainment in a research note on Friday, July 21st. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $42.86.
The firm has a market cap of $9,290.00, a P/E ratio of 2,238.50 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. analysts expect that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current year.
In other news, insider Brian Capo sold 7,500 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the transaction, the insider now owns 13,354 shares in the company, valued at approximately $540,837. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ariel Emanuel sold 10,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $41.56, for a total transaction of $415,600.00. Following the transaction, the director now owns 85,737 shares in the company, valued at approximately $3,563,229.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 224,011 shares of company stock worth $9,971,502. 4.77% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $134,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $167,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Live Nation Entertainment by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock worth $185,000 after buying an additional 445 shares during the period. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $209,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth $210,000. Institutional investors own 68.32% of the company’s stock.
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About Live Nation Entertainment
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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