Live Nation Entertainment (NYSE:LYV) Now Covered by Atlantic Securities
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.
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.
Further Reading: The Role of a Fiduciary and Individual Investors
Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.