The stock of Live Nation Entertainment Inc. (NYSE:LYV) last traded at $97.16, up 0.33% from the previous session.
Data from the available sources indicates that Live Nation Entertainment Inc. (NYSE:LYV) is covered by 21 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $115.00 and a low of $75.00, we find $105.00. Given the previous closing price of $96.84, this indicates a potential upside of 8.43 percent. LYV stock price is now 11.62% away from the 50-day moving average and 27.09% away from the 200-day moving average. The market capitalization of the company currently stands at $22.33B.
In total, 4 analysts have assigned it a hold rating, and 13 have given it a buy rating. Brokers who have rated the stock have averaged $103.11 as their price target over the next twelve months.
With the price target of $110, Oppenheimer recently initiated with Outperform rating for Live Nation Entertainment Inc. (NYSE: LYV).
In other news, HINSON JEFFREY T., Director sold 1,000 shares of the company’s stock on Jun 12. The stock was sold for $85,790 at an average price of $85.79. Upon completion of the transaction, the Director now directly owns 60,975 shares in the company, valued at $5.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08, EVP & General Counsel Rowles Michael sold 100,000 shares of the business’s stock. A total of $7,800,000 was realized by selling the stock at an average price of $78.00. This leaves the insider owning 157,786 shares of the company worth $15.33 million. Insiders disposed of 2,500,851 shares of company stock worth roughly $242.98 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 D1 CAPITAL PARTNERS L.P. during the first quarter worth $318,664,000. ARTISAN PARTNERS LIMITED PARTNERSHIP invested $136,498,000 in shares of LYV during the first quarter. In the first quarter, SOUTHEASTERN ASSET MANAGEMENT INC/TN/ acquired a new stake in Live Nation Entertainment Inc. valued at approximately $30,709,000. MAPLELANE CAPITAL, LLC acquired a new stake in LYV for approximately $29,828,000. TWO SIGMA ADVISERS, LP purchased a new stake in LYV valued at around $18,072,000 in the second quarter. In total, there are 846 active investors with 71.90% ownership of the company’s stock.
During the past 12 months, Live Nation Entertainment Inc. has had a low of $64.25 and a high of $99.66. The fifty day moving average price for LYV is $87.42 and a two-hundred day moving average price translates $76.53 for the stock.
The latest earnings results from Live Nation Entertainment Inc. (NYSE: LYV) was released for Mar, 2023. The company reported revenue of $3.13 billion for the quarter, compared to $1.8 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 73.47 percent.
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 and streams 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 through other websites, mobile apps, retail outlets, and call centers; and provides ticket resale services. This segment sells tickets for its events and third-party clients in various live event categories; offers ticketing services for arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. The Sponsorship & Advertising segment sells international, national, and local sponsorships and placement of advertising, including signage and 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. It owns, operates, or leases entertainment venues in North America and 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.
