Market Analysts see Live Nation Entertainment Inc. [LYV] falling to $82. Time to buy?

Live Nation Entertainment Inc. [NYSE: LYV] plunged by -$0.04 during the normal trading session on Monday and reaching a high of $74.57 during the day while it closed the day at $73.88. The company report on December 1, 2022 that MIRANDA LAMBERT EXTENDS VELVET RODEO HEADLINING LAS VEGAS RESIDENCY AT ZAPPOS THEATER AT PLANET HOLLYWOOD RESORT & CASINO WITH NEW JULY AND DECEMBER 2023 DATES.

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Tickets for 16 new performances of “Miranda Lambert: Velvet Rodeo The Las Vegas Residency” go on sale Friday, Dec. 9 at Ticketmaster.com/MirandaVegas.

Last night, while performing her headlining residency at Zappos Theater at Planet Hollywood Resort & Casino, Miranda Lambert announced that her critically acclaimed “Miranda Lambert: Velvet Rodeo The Las Vegas Residency” has been extended through the end of 2023 due to remarkable fan demand. The 16 new shows will take place in July, November and December 2023.

Live Nation Entertainment Inc. stock has also gained 7.56% of its value over the past 7 days. However, LYV stock has declined by -16.92% in the 3 months of the year. Over the past six months meanwhile, it has lost -22.36% and lost -38.27% year-on date.

The market cap for LYV stock reached $16.97 billion, with 225.76 million shares outstanding and 155.81 million shares in the current float. Compared to the average trading volume of 2.24M shares, LYV reached a trading volume of 7429394 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $102.50 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 2.00. 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.

Citigroup have made an estimate for Live Nation Entertainment Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 28, 2022. While these analysts kept the previous recommendation, Redburn raised their target price to Neutral. The new note on the price target was released on November 22, 2022, representing the official price target for Live Nation Entertainment Inc. stock. Previously, the target price had yet another drop from $117 to $105, while Macquarie kept a Outperform rating on LYV stock.

The Average True Range (ATR) for Live Nation Entertainment Inc. is set at 2.92, with the Price to Sales ratio for LYV stock in the period of the last 12 months amounting to 1.12. Price to Free Cash Flow for LYV in the course of the last twelve months was 9.13 with Quick ratio for the last quarter at 1.00.

LYV stock trade performance evaluation

Live Nation Entertainment Inc. [LYV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.56. With this latest performance, LYV shares dropped by -3.32% in over the last four-week period, additionally sinking by -22.36% over the last 6 months – not to mention a drop of -26.80% 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 51.77, with the RSI for the last a single of trading hit 58.95, and the three-weeks RSI is set at 48.26 for Live Nation Entertainment Inc. [LYV]. The present Moving Average for the last 50 days of trading for this stock 75.49, while it was recorded at 72.86 for the last single week of trading, and 92.14 for the last 200 days.

Live Nation Entertainment Inc. [LYV]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Live Nation Entertainment Inc. [LYV] shares currently have an operating margin of -6.69 and a Gross Margin at +23.87. Live Nation Entertainment Inc.’s Net Margin is presently recorded at -10.70.

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.

Live Nation Entertainment Inc. [LYV]: Insider Ownership positions

There are presently around $12,423 million, or 71.90% of LYV stock, in the hands of institutional investors. The top three institutional holders of LYV stocks are: VANGUARD GROUP INC with ownership of 16,333,907, which is approximately 2.658% of the company’s market cap and around 2.30% of the total institutional ownership; BLACKROCK INC., holding 13,485,591 shares of the stock with an approximate value of $996.32 million in LYV stocks shares; and PUBLIC INVESTMENT FUND, currently with $928.32 million in LYV stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Live Nation Entertainment Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 298 institutional holders increased their position in Live Nation Entertainment Inc. [NYSE:LYV] by around 10,938,366 shares. Additionally, 273 investors decreased positions by around 16,899,563 shares, while 93 investors held positions by with 140,316,610 shares. The mentioned changes placed institutional holdings at 168,154,539 shares, according to the latest SEC report filing. LYV stock had 71 new institutional investments in for a total of 1,865,553 shares, while 73 institutional investors sold positions of 1,717,122 shares during the same period.

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