Atlantic Securities assumed coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage issued an overweight rating and a $75.00 price target on the stock.

Other research analysts have also issued reports about the company. ValuEngine lowered Live Nation Entertainment from a strong-buy rating to a buy rating in a research report on Monday, April 1st. Berenberg Bank initiated coverage on Live Nation Entertainment in a research report on Tuesday, May 14th. They set a buy rating and a $73.00 price target on the stock. Zacks Investment Research lowered Live Nation Entertainment from a buy rating to a hold rating in a research report on Thursday, May 2nd. Citigroup lowered Live Nation Entertainment from a buy rating to a neutral rating and upped their price target for the company from $59.00 to $63.00 in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Stephens upped their price target on Live Nation Entertainment to $70.00 and gave the company an overweight rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment presently has an average rating of Buy and an average price target of $63.18.

Shares of Live Nation Entertainment stock opened at $63.18 on Tuesday. The firm has a market cap of $13.16 billion, a PE ratio of -702.00 and a beta of 1.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. Live Nation Entertainment has a 12-month low of $45.79 and a 12-month high of $67.00.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.59 billion. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. Live Nation Entertainment’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) earnings per share. Equities research analysts predict that Live Nation Entertainment will post 0.27 EPS for the current fiscal year.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 5,447 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $62.45, for a total value of $340,165.15. Following the transaction, the director now directly owns 67,886 shares of the company’s stock, valued at approximately $4,239,480.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark S. Shapiro sold 8,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $64.90, for a total value of $519,200.00. Following the completion of the transaction, the director now directly owns 36,765 shares in the company, valued at $2,386,048.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,237 shares of company stock worth $1,359,873. Insiders own 4.82% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $35,000. Parallel Advisors LLC boosted its stake in shares of Live Nation Entertainment by 81.0% during the 1st quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock worth $35,000 after acquiring an additional 243 shares in the last quarter. CWM LLC boosted its stake in shares of Live Nation Entertainment by 59.5% during the 1st quarter. CWM LLC now owns 622 shares of the company’s stock worth $40,000 after acquiring an additional 232 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth about $40,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth about $44,000. 70.69% of the stock is currently owned by institutional investors.

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 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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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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