Redburn Partners’ equities analysts took up coverage of Live Nation Entertainment (NYSE: LYV) in a report published on Tuesday. The company assigned a “neutral” rating to the stock.
Several other research analysts have also provided feedback regarding the stock in question. In a study that was made public by Benchmark on August 15th, they stated that they had increased their price target for Live Nation Entertainment shares to $140.00. Goldman Sachs Group lowered their price objective on Live Nation Entertainment from $130.00 to $112.00 and assigned the company a “buy” rating in a report released on Friday, November 4th. The report was about the company. The Street raised its previous rating of “d+” for Live Nation Entertainment to a “c-” rating in a report on the company’s performance issued on Wednesday, August 10th. Guggenheim lowered their price target on Live Nation Entertainment from $140.00 to $120.00 and set the stock to a “buy” rating in a research report published on Friday, October 7th.
Last but not least, in a report published on Wednesday, October 19th, StockNews.com changed its previous rating of “hold” for shares of Live Nation Entertainment to “buy.” Three research analysts have assigned a hold recommendation to the stock, while eight have assigned a buy rating. According to the data provided by Bloomberg, a “moderate-buy” average recommendation has been placed on the company, and most analysts have determined a price target of $111.50.
The price of LYV stock was $66.94 when the market opened on Tuesday. The debt-to-equity ratio comes in at 12.85, the current ratio comes in at 1.04, and the quick ratio comes in at 1.04. The simple moving average over the past 50 days for the company is $78.15, and the simple moving average over the past 200 days is $86.02. The firm’s market capitalization is $15.46 billion; it has a price-to-earnings ratio of 95.63 and a beta of 1.31. The one-year low for Live Nation Entertainment is $65.05, and the one-year high for the company is $126.79.
In other developments involving Live Nation Entertainment, Chief Executive Officer Michael Rapino sold 78,000 shares of the company’s stock on Thursday, September 15th. At an average price of $92.66 per share, the shares were able to bring in a total of $7,227,480.00 after being sold. Because of the transaction, the chief executive officer now directly owns 3,711,273 shares of the company’s stock, which have a value of $343,886,556.18. The transaction was made public by a legal filing with the Securities and Exchange Commission, which may be located here for your perusal. In addition, over the past three months, business insiders have offloaded 312,000 shares, bringing in a total of $26,640,900. There 4.01% of the company’s shares are held privately.
Recently, hedge funds and other institutional investors boosted their shares in the company, bringing the total value of their investments to more than $1 billion. CIBC Asset Management Inc. raised its holdings in Live Nation Entertainment by 0.8% over the year’s first three months. CIBC Asset Management Inc. now has 16,261 shares of the company’s stock, valued at $1,913,000 following the acquisition of an additional 130 shares during the period in question. Raymond James Trust National Association grew its holdings in Live Nation Entertainment by 4.3% during the year’s first quarter. Following the acquisition of an additional 130 shares during the preceding quarter, Raymond James Trust N.A. now holds 3,139 shares of the company’s stock, which has a value of $369,000. Industrial Alliance Investment Management Inc. raised its ownership in Live Nation Entertainment by 21.5 percent over the year’s first three months. Industrial Alliance Investment Management Inc. now has 746 shares of the company’s stock, valued at $88,000, following the acquisition of an additional 132 shares during the most recent quarter. Finally, Parkside Financial Bank & Trust boosted its interest in Live Nation Entertainment by 32.8% during the second quarter. Following the acquisition of 136 additional shares during the preceding quarter, Parkside Financial Bank & Trust now holds a total of 551 shares of the company’s stock, which have a combined value of $46,000.
Last but not least, during the first three months of the year, Quadrant Capital Group LLC added 16.9% more shares to its holdings in Live Nation Entertainment. After making 139 additional stock purchases during the preceding quarter, Quadrant Capital Group LLC now holds 963 shares of the company’s stock, valued at $113,000. Institutional investors and hedge funds hold a combined stake in the firm that amounts to 71.08% of its total stock.
The corporation known as Live Nation Entertainment, Inc. is in the business of putting on live performances. It operates under three distinct business pillars: concert production, ticket sales, and marketing and sponsorship. Concerts produce live music festivals, maintains and manages music venues, promotes live music events at its venues or third-party venues that it rents, generates material linked with these endeavors, and manages musicians in addition to providing other services to them.