Worth Watching: Live Nation Entertainment, Inc. on Focus After Trading At 52-Week Highs

Worth Watching: Live Nation Entertainment, Inc. on Focus After Trading At 52 Week Highs

The stock of Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high and has $35.00 target or 26.00% above today’s $27.78 share price. The 9 months bullish chart indicates low risk for the $5.45 billion company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $35.00 price target is reached, the company will be worth $1.42B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 440,676 shares traded hands. Live Nation Entertainment, Inc. (NYSE:LYV) has risen 25.57% since April 5, 2016 and is uptrending. It has outperformed by 23.62% the S&P500.

Live Nation Entertainment, Inc. (NYSE:LYV) Ratings Coverage

Out of 7 analysts covering Live Nation (NYSE:LYV), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $33 is the highest target while $30.0 is the lowest. The $32.50 average target is 16.99% above today’s ($27.78) stock price. Live Nation has been the topic of 8 analyst reports since September 18, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Friday, October 30 by Albert Fried. The company was maintained on Wednesday, October 12 by Citigroup. The stock has “Buy” rating given by Northcoast on Monday, May 2. The company was initiated on Thursday, August 18 by JP Morgan. The firm earned “Neutral” rating on Tuesday, March 29 by BTIG Research. Gabelli initiated it with “Buy” rating and $33 target price in Friday, September 18 report. The rating was initiated by Stephens on Thursday, October 6 with “Equal-Weight”. The firm earned “Buy” rating on Thursday, October 8 by Citigroup.

According to Zacks Investment Research, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.22, from 1.31 in 2016Q1. The ratio fall, as 27 funds sold all Live Nation Entertainment, Inc. shares owned while 78 reduced positions. 31 funds bought stakes while 83 increased positions. They now own 125.43 million shares or 0.29% more from 125.07 million shares in 2016Q1.
Lord Abbett Llc has invested 0.07% of its portfolio in Live Nation Entertainment, Inc. (NYSE:LYV). Washington Trust State Bank has 60 shares for 0% of their US portfolio. Ladenburg Thalmann Services Inc, a Florida-based fund reported 287 shares. Moreover, Fmr Limited Liability Company has 0.02% invested in Live Nation Entertainment, Inc. (NYSE:LYV) for 4.88 million shares. California State Teachers Retirement Systems has 280,835 shares for 0.01% of their US portfolio. Spot Trading Ltd Liability Corporation accumulated 5,582 shares or 0% of the stock. Arizona State Retirement has 60,294 shares for 0.02% of their US portfolio. Wedge Cap Management L Lp Nc holds 22,108 shares or 0.01% of its portfolio. Ellington Grp Ltd Liability Com, a Connecticut-based fund reported 8,500 shares. Old West Investment Mgmt Limited Liability Corp last reported 155,765 shares in the company. Retail Bank Of Montreal Can holds 92,279 shares or 0% of its portfolio. Utah Retirement reported 23,900 shares or 0.01% of all its holdings. Concourse Capital Management Llc last reported 353,528 shares in the company. Louisiana State Employees Retirement Systems has 0.05% invested in the company for 38,900 shares. Shapiro Cap Mngmt Ltd Liability Company accumulated 0.01% or 8.46M shares.

Insider Transactions: Since June 13, 2016, the stock had 0 insider buys, and 1 sale for $126,245 net activity. $126,245 worth of Live Nation Entertainment, Inc. (NYSE:LYV) was sold by ENLOE ROBERT TED III.

More recent Live Nation Entertainment, Inc. (NYSE:LYV) news were published by: Prnewswire.com which released: “Live Nation Entertainment Announces Pricing Of Private Notes Offering” on October 26, 2016. Also Benzinga.com published the news titled: “Earnings Scheduled For November 7, 2016” on November 07, 2016. Moodys.com‘s news article titled: “Moody’s affirms Live Nation’s B1 CFR, rates sr sec credit facilities Ba2 …” with publication date: October 19, 2016 was also an interesting one.

LYV Company Profile

Live Nation Entertainment, Inc. (Live Nation), incorporated on August 2, 2005, is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. The Company’s divisions include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate. The Firm connects approximately 530 million fans across its platforms in over 40 countries. The Firm is a producer of live music concerts around the world, based on total fans that attend Live Nation events as compared to events of other promoters, connecting approximately 60 million fans to over 25,500 events for approximately 3,300 artists.

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