Live Nation Entertainment Inc. (LYV): Insights At A Glance

    SBUX Stock
    SBUX Stock

    The Vanguard Group, Inc. has recently announced that it has increased stake in Live Nation Entertainment Inc. (NYSE:LYV) by 0.00%. After grabbing 14.86 million shares, the institutional investor is now in possession of 609.0 shares of the Communication Services Company. The new investment brought the stake of investor firm to 6.90% having worth around $695.65 million. Moreover, Canada Pension Plan Investment Bo.. increased its share by 29273.0 to have a control over 10.75 million shares. And Principal Global Investors LLC raised its holdings to 3.34 million shares by acquiring 7.4 million shares or 3.44% of the stake.

    Live Nation Entertainment Inc. (LYV) concluded trading on 08/27/20 at a closing price of $57.26, with 6.4 million shares of worth about $366.27 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 11.08% during that period and on Thursday the price saw a gain of about 8.78%. Currently the company’s common shares owned by public are about 211.69M shares, out of which, 159.06M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 12 analysts are covering the LYV stock and their offered price forecasts bring an average price target of $53.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $60.00 and could fall to a lowest price of $40.00. Analysts also issued an outlook of 2.20 for the Live Nation Entertainment Inc. stock for next 12 months. The stock’s current price level is -12.72% below of average price target set by the analysts, while a dip to estimated low would result in loss of -43.15 for the stock. However, touching the estimated high of $60.00 would mean a gain of 4.57% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 49 times over the past 12 months. They bought 1,652,643 shares in 33 of the transactions. In 16 selling transactions, insiders dumped 480,496 shares.

    Canada Pension Plan, Findlay Park Funds Plc – American, and Akre Focus Fund are the top 3 mutual funds which are holding stakes in Live Nation Entertainment Inc. Canada Pension Plan is currently holding 10.2 million shares of worth totaling $477.27 million. The company recently came buying 2.61 million shares which brought its stake up to 4.74% of the company’s outstanding shares. Findlay Park Funds Plc – American bought 2.09 million shares, after which its hold over company’s outstanding shares expand to 3.51%, leaving 7.55 million shares with the mutual fund that have a worth of about $353.51 million. Akre Focus Fund, after buying 5.47 million shares, have now control over 2.54% of the stake in the company. It holds 5.47 million shares of worth $256.02 million.

    Live Nation Entertainment Inc. (NYSE: LYV) started trading at $53.37, above $0.73 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $57.26, or with a gain of 8.78%. Stock saw a price change of 11.08% in past 5 days and over the past one month there was a price change of 21.99%. Year-to-date (YTD), LYV shares are showing a performance of -19.88% which decreased to -17.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $21.70 but also hit the highest price of $76.60 during that period. While comparing its average daily trading volume of 2.83 million shares, we see that about 6.4 million changed hands on the day. The stock is currently trading 14.18% above its 20-day simple moving average (SMA20), while that difference is up 18.89% for SMA50 and it goes to 4.74% higher than SMA200.

    The Vanguard Group, Inc. acquired 14.86 million shares of Live Nation Entertainment Inc. having value of about $695.65 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 609.0 shares in the company valued at close to $34871.34, or have control over 0.00% stake in the company. Live Nation Entertainment Inc. (NYSE: LYV) currently have 211.69M outstanding shares and institutions hold larger chunk of about 73.40% of that. Holding of mutual funds in the company is about 41.16% while other institutional holders and individual stake holders have control over 84.10% and 25.48% of the stake respectively.

    The stock has a current market capitalization of $12.54B and its 3Y-monthly beta is at 1.12. It has posted earnings per share of -$3.79 in the same period. It has Quick Ratio of 1.30 while making debt-to-equity ratio of 14.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LYV, volatility over the week remained 5.14% while standing at 4.04% over the month.

    Analysts are in expectations that Live Nation Entertainment Inc. (LYV) stock would likely to be making an EPS of -$2.25 in the current quarter, while forecast for next quarter ESPS is -$2.12 and it is -$1.77 for next year. For the current quarter EPS, analysts have given the company a lowest target -$2.84 which is -$1.42 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 72.70% while it is estimated to increase by 77.10% in next year.

    Analysts at 12 brokerage firms have issued recommendations for the Live Nation Entertainment Inc. (LYV)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 12 Wall Street analysts, 7 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Berenberg on March 31, 2020 offering a Hold rating for the stock and assigned a target price of to it. Coverage by Citigroup stated Live Nation Entertainment Inc. (LYV) stock as a Neutral in their note to investors on March 24, 2020, suggesting a price target of $35 for the stock. On January 27, 2020, Cowen Initiated their recommendations, while on November 12, 2019, Evercore ISI Upgrade their ratings for the stock with a price target of. Stock get an Equal-weight rating from Morgan Stanley on October 08, 2019.


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