Live Nation Entertainment Inc. (NYSE:LYV) shares traded -7.85% lower at $66.21 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $140.00 and a low of $70.00, we find $110.00. Given the previous closing price of $71.85, this indicates a potential upside of 53.1 percent. LYV stock price is now -16.46% away from the 50-day moving average and -30.02% away from the 200-day moving average. The market capitalization of the company currently stands at $16.59B.
Brokers who have rated the stock have averaged $105.57 as their price target over the next twelve months.
With the price target reduced from $117 to $105, Macquarie Upgraded its rating from Neutral to Outperform for Live Nation Entertainment Inc. (NYSE: LYV). On April 26, 2022, The Benchmark Company recently initiated its ‘Buy’ rating on the stock quoting a target price of $135, while ‘Rosenblatt’ rates the stock as ‘Buy’.
In other news, Rapino Michael, President & CEO sold 78,000 shares of the company’s stock on Sep 23. The stock was sold for $5,804,024 at an average price of $74.41. Upon completion of the transaction, the President & CEO now directly owns 3,799,273 shares in the company, valued at $251.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 22, President & CEO Rapino Michael sold 78,000 shares of the business’s stock. A total of $6,081,319 was realized by selling the stock at an average price of $77.97. This leaves the insider owning 3,777,273 shares of the company worth $250.09 million. Insiders disposed of 2,879,659 shares of company stock worth roughly $190.66 million over the past 1 year. A total of 2.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LYV stock. A new stake in Live Nation Entertainment Inc. shares was purchased by ANOMALY CAPITAL MANAGEMENT, LP during the first quarter worth $28,343,000. SCHONFELD STRATEGIC ADVISORS LLC invested $9,859,000 in shares of LYV during the first quarter. In the first quarter, AUSTRALIANSUPER PTY LTD acquired a new stake in Live Nation Entertainment Inc. valued at approximately $7,068,000. MAPLELANE CAPITAL, LLC acquired a new stake in LYV for approximately $6,753,000. TREXQUANT INVESTMENT LP purchased a new stake in LYV valued at around $6,269,000 in the second quarter. In total, there are 855 active investors with 71.90% ownership of the company’s stock.
Live Nation Entertainment Inc. (NYSE: LYV) opened at $73.42 on Friday. During the past 12 months, Live Nation Entertainment Inc. has had a low of $67.53 and a high of $126.79. The fifty day moving average price for LYV is $78.71 and a two-hundred day moving average price translates $94.42 for the stock.
The latest earnings results from Live Nation Entertainment Inc. (NYSE: LYV) was released for Jun, 2022. According to the Entertainment Company, earnings per share came in at $0.66, beating analysts’ expectations of $0.51 by 0.15. This compares to $0.39 EPS in the same period last year. The net profit margin was 2.20% and return on equity was -82.60% for LYV. The company reported revenue of $6.15 billion for the quarter, compared to $2.7 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 128.02 percent. For the current quarter, analysts expect LYV to generate $5.1B in revenue.
Live Nation Entertainment Inc.(LYV) Company Profile
Live Nation Entertainment, Inc. operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising 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; produces music festivals; creates associated content; and offers management and other services to artists. The Ticketing segment manages the ticketing operations, including the provision of ticketing software and services to clients for tickets and event information through its primary websites livenation.com and ticketmaster.com, as well as provides ticket resale services. This segment sells tickets for its events, as well as for third-party clients in various live event categories, such as arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters through websites, mobile apps, and ticket outlets. The Sponsorship & Advertising segment sells international, national, and local sponsorships and placement of advertising, including signage, promotional programs, rich media offering that comprise advertising related with live streaming and music-related content; and ads across its distribution network of venues, events, and websites. This segment also manages the development of strategic sponsorship programs, as well as develops, books, and produces custom events or programs for specific brands. As of December 31, 2021, it owned, operated, or leased 165 entertainment venues in North America and 94 entertainment venues internationally. The company was formerly known as Live Nation, Inc. and changed its name to Live Nation Entertainment, Inc. in January 2010. Live Nation Entertainment, Inc. was incorporated in 2005 and is headquartered in Beverly Hills, California.