Live Nation Entertainment Inc. [NYSE: LYV] loss -0.06% or -0.06 points to close at $99.37 with a heavy trading volume of 4894544 shares. The company report on April 28, 2022 that LIVE NATION’S ANNUAL CONCERT WEEK IS HERE – GET $25 TICKETS TO MORE THAN 3,700 CONCERTS.
Exclusively Available For One Week Only Starting Wednesday, May 4th at 10 a.m. ET at LiveNation.com/ConcertWeek .
Live Nation today announced the return of Concert Week, offering fans access to $25 all-in tickets to more than 3,700 shows across North America this year. The week-long program celebrates one of the biggest and most exciting years for live music and marks the kick-off to an epic summer concert season.
It opened the trading session at $99.43, the shares rose to $99.92 and dropped to $92.77, the range by which the price of stock traded the whole day. The daily chart for LYV points out that the company has recorded -6.94% loss over the past six months. However, it is still -34.27% lower than its most recent low trading price.
If we look at the average trading volume of 2.30M shares, LYV reached to a volume of 4894544 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Live Nation Entertainment Inc. [LYV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LYV shares is $130.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LYV stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Live Nation Entertainment Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on April 26, 2022, representing the official price target for Live Nation Entertainment Inc. stock.
The Average True Range (ATR) for Live Nation Entertainment Inc. is set at 4.59, with the Price to Sales ratio for LYV stock in the period of the last 12 months amounting to 3.71. Price to Free Cash Flow for LYV in the course of the last twelve months was 14.29 with Quick ratio for the last quarter at 1.00.
Trading performance analysis for LYV stock
Live Nation Entertainment Inc. [LYV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.90. With this latest performance, LYV shares dropped by -14.46% in over the last four-week period, additionally sinking by -6.94% over the last 6 months – not to mention a rise of 26.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LYV stock in for the last two-week period is set at 34.17, with the RSI for the last a single of trading hit 28.33, and the three-weeks RSI is set at 38.17 for Live Nation Entertainment Inc. [LYV]. The present Moving Average for the last 50 days of trading for this stock 111.98, while it was recorded at 103.29 for the last single week of trading, and 103.97 for the last 200 days.
Live Nation Entertainment Inc. [LYV]: A deeper dive into fundamental analysis
Live Nation Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
An analysis of insider ownership at Live Nation Entertainment Inc. [LYV]
There are presently around $16,451 million, or 74.90% of LYV stock, in the hands of institutional investors. The top three institutional holders of LYV stocks are: VANGUARD GROUP INC with ownership of 15,181,781, which is approximately 2.525% of the company’s market cap and around 2.30% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 12,565,167 shares of the stock with an approximate value of $1.25 billion in LYV stocks shares; and MELVIN CAPITAL MANAGEMENT LP, currently with $974.41 million in LYV stock with ownership of nearly 64.017% of the company’s market capitalization.
312 institutional holders increased their position in Live Nation Entertainment Inc. [NYSE:LYV] by around 18,525,890 shares. Additionally, 273 investors decreased positions by around 15,865,336 shares, while 109 investors held positions by with 131,060,901 shares. The mentioned changes placed institutional holdings at 165,452,127 shares, according to the latest SEC report filing. LYV stock had 109 new institutional investments in for a total of 4,244,677 shares, while 63 institutional investors sold positions of 3,855,434 shares during the same period.