In the world of entertainment, few names hold as much sway as Live Nation Entertainment, Inc. Known for producing and promoting live concerts for major artists across the globe, the company has earned an average rating of “Moderate Buy” from fifteen different research firms covering its stock. Bloomberg reports that while five equities research analysts have rated shares as a hold, six others have given it a buy rating.
As of May 12, 2023, the average price objective among brokerages that have issued a report on the stock in the last year is $98.55, indicating a positive outlook for Live Nation Entertainment’s future growth potential.
However, this optimism is tempered by some recent setbacks in earnings. In late February 2023, the company posted quarterly earnings data revealing an earnings per share (EPS) of ($1.09) for the quarter–missing analyst’s consensus estimates by ($0.13). Still, Live Nation Entertainment boasts a return on equity (ROE) of 226.22%, signaling strong profitability despite current challenges.
Operating through three segments–Concerts, Sponsorship and Advertising, and Ticketing–Live Nation Entertainment continues to play a significant role in shaping the global entertainment landscape. The Concerts segment focuses on promoting live music events in owned or operated venues and third-party rentals. Meanwhile, Sponsorship and Advertising work towards generating new streams of revenue via corporate sponsorships and advertising opportunities connected with performances.
Finally, Ticketing focuses on selling tickets directly to consumers through partnerships with primary ticketing providers across various geographies worldwide.
In conclusion, while recent financial results may call into question some elements of Live Nation Entertainment’s growth trajectory in the near term, many factors indicate continued success for this industry leader over time. With an extensive global presence across multiple segments of the entertainment industry and consistent ratings from top equities analysts worldwide–as well as forward-looking price objectives pointing to sustained growth momentum– Live Nation Entertainment remains a formidable entity in this dynamic industry.
Analyst Reports and Insider Trading of Live Nation Entertainment: A Comprehensive Overview
Live Nation Entertainment: A Breakdown of Analyst Reports and Recent Insider Trading
Live Nation Entertainment has been a major topic in several recent analyst reports. On March 22, Roth Mkm began coverage on shares with a “neutral” rating and set a price objective of $72.00. Roth Capital also assumed coverage on that same day with a “neutral” rating. In mid-March, StockNews.com initiated coverage with a “hold” rating for the company. Benchmark even dropped their price target from $120.00 to $105.00 in early May.
However, Northcoast Research upgraded Live Nation Entertainment from “neutral” to “buy” and gave the company a $85.00 price objective back in March. Despite the mixed opinions, shares of LYV opened at $77.76 as of May 12, 2023.
On May 8th, EVP Michael Rowles sold 100,000 shares of Live Nation Entertainment’s stock at an average price of $78.00 for a total value of $7,800,000. This leaves him with 157,786 shares valued at about $12,307,308.
According to a document filed with the SEC website that is now available to be viewed publically Corporate insiders own 4.01% of LYV’s stock while institutional investors and hedge funds account for 69.90%.
Live Nation Entertainment operates as an entertainment company that produces live concerts globally via its concert pipeline as well and markets it by selling tickets through segments like Concerts Sponsorship & Advertising and Ticketing.
The firm has a twelve-month low ratio of $64.25 and high ratio of $99.66 all the while having a market cap worth approximately $18.01 billion along with quick ratios of 1.08 and current ratios also standing at similarly impressive numbers alluding to excellent fiscal health.
In terms of investments, M&T Bank Corp raised its position in shares of Live Nation Entertainment by 7.6% reporting to own 6,546 shares out of the first quarter which are currently worth $458,000 after purchasing a total of 464 shares during that same timespan.
On the other hand, EverSource Wealth Advisors LLC has seen a staggering increase in its stakes with a 7x growth rate lifting its stake by an astonishing 773.6% back in Q1; as current reports suggest they now own 463 shares worth $32,000.
Finally we have Cerity Partners LLC and Natixis Advisors L.P., who increased their stakes in LYV to the tune of about 16.5% & 59.9% respectively over Q1 amassed around 6,688 and 221,421 shares making for a combined sum worth approximately $468k & $15,499k each.
