Top investors say Live Nation Entertainment Inc. (LYV) ticks everything they need

Live Nation Entertainment Inc. (NYSE: LYV) stock fell -6.11% on Friday to $81.55 against a previous-day closing price of $86.86. With 2.24 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.34 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $87.00 whereas the lowest price it dropped to was $81.49. The 52-week range on LYV shows that it touched its highest point at $127.75 and its lowest point at $79.50 during that stretch. It currently has a 1-year price target of $122.92. Beta for the stock currently stands at 1.31.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LYV was down-trending over the past week, with a drop of -11.60%, but this was down by -10.76% over a month. Three-month performance dropped to -1.99% while six-month performance fell -30.88%. The stock lost -4.31% in the past year, while it has lost -31.87% so far this year. A look at the trailing 12-month EPS for LYV yields -0.51 with Next year EPS estimates of 1.20. For the next quarter, that number is 1.03. This implies an EPS growth rate of 62.00% for this year and 99.67% for next year.

Float and Shares Shorts:

At present, 224.67 million LYV shares are outstanding with a float of 155.03 million shares on hand for trading. On Aug 30, 2022, short shares totaled 13.97 million, which was 6.07% higher than short shares on Jul 28, 2022. In addition to Mr. Michael Rapino as the firm’s Pres, CEO & Director, Mr. Joe Berchtold serves as its Pres & CFO.

Institutional Ownership:

Through their ownership of 72.36% of LYV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 72.36% of LYV, in contrast to 40.14% held by mutual funds. Shares owned by individuals account for 27.14%. As the largest shareholder in LYV with 6.66% of the stake, The Vanguard Group, Inc. holds 15,309,752 shares worth 15,309,752. A second-largest stockholder of LYV, Select Equity Group LP, holds 9,775,997 shares, controlling over 4.25% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in LYV, holding 8,185,947 shares or 3.56% stake. With a 3.57% stake in LYV, the Canada Pension Plan is the largest stakeholder. A total of 8,202,000 shares are owned by the mutual fund manager. The Principal Investors – Mid Cap Fun, which owns about 2.13% of LYV stock, is the second-largest Mutual Fund holder. It holds 4,887,215 shares valued at 441.61 million. Vanguard Total Stock Market Index holds 1.91% of the stake in LYV, owning 4,399,347 shares worth 397.52 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LYV since 18 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LYV analysts setting a high price target of $140.00 and a low target of $92.00, the average target price over the next 12 months is $118.80. Based on these targets, LYV could surge 71.67% to reach the target high and rise by 12.81% to reach the target low. Reaching the average price target will result in a growth of 45.68% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LYV will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $1.68 being high and $0.04 being low. For LYV, this leads to a yearly average estimate of $0.71. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Live Nation Entertainment Inc. surprised analysts by $0.16 when it reported $0.66 EPS against a consensus estimate of $0.50. The surprise factor in the prior quarter was $0.43. Based on analyst estimates, the high estimate for the next quarter is $1.25 and the low estimate is $0.60. The average estimate for the next quarter is thus $1.04.

Summary of Insider Activity:

Insiders traded LYV stock several times over the past three months with 1 Buys and 7 Sells. In these transactions, 333,751 shares were bought while 48,207 shares were sold. The number of buy transactions has increased to 50 while that of sell transactions has risen to 156 over the past year. The total number of shares bought during that period was 3,011,445 while 2,177,659 shares were sold.

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