why Live Nation Entertainment Inc. [LYV] is a Good Choice for Investors After New Price Target of $100.50

Live Nation Entertainment Inc. [NYSE: LYV] price surged by 0.42 percent to reach at $0.3. The company report on January 9, 2023 that Live Nation Entertainment Announces Pricing Of Upsized Convertible Senior Notes Offering.

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Live Nation Entertainment, Inc. (NYSE: LYV) (the “company”) today announced that it priced its previously announced offering of $900.0 million in aggregate principal amount of its 3.125% convertible senior notes due 2029 (the “Convertible Notes”). The offering size was increased from the previously announced offering size of $850.0 million aggregate principal amount of Convertible Notes. The Convertible Notes were priced at 100.000% of their principal amount. The company intends to use a portion of the net proceeds from the Convertible Notes offering to fund the cost of entering into the capped call transactions described below. The company intends to use the remainder of the net proceeds from the Convertible Notes offering to effect the repurchase of a portion of its 2.5% convertible senior notes due 2023 (the “existing convertible notes”), to pay related fees and expenses and for general corporate purposes, which may include the repayment or repurchase of certain of its outstanding indebtedness.

The Convertible Notes will have an initial conversion rate of 9.2259 shares of the company’s common stock per $1,000 principal amount of the Convertible Notes (equivalent to an initial conversion price of approximately $108.39 per share of the company’s common stock). The initial conversion price represents a premium of 50.0% to the $72.26 per share closing price of the company’s common stock on The New York Stock Exchange on January 9, 2023.

A sum of 7770008 shares traded at recent session while its average daily volume was at 2.28M shares. Live Nation Entertainment Inc. shares reached a high of $73.15 and dropped to a low of $70.81 until finishing in the latest session at $72.56.

The one-year LYV stock forecast points to a potential upside of 27.8. The average equity rating for LYV stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $100.50 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 2.10. 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 2.21, with the Price to Sales ratio for LYV stock in the period of the last 12 months amounting to 1.10. Price to Free Cash Flow for LYV in the course of the last twelve months was 8.93 with Quick ratio for the last quarter at 1.00.

LYV Stock Performance Analysis:

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 5.37. With this latest performance, LYV shares gained by 1.53% in over the last four-week period, additionally sinking by -11.60% over the last 6 months – not to mention a drop of -37.37% 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 54.95, with the RSI for the last a single of trading hit 60.65, and the three-weeks RSI is set at 51.35 for Live Nation Entertainment Inc. [LYV]. The present Moving Average for the last 50 days of trading for this stock 72.01, while it was recorded at 71.97 for the last single week of trading, and 86.92 for the last 200 days.

Insight into Live Nation Entertainment Inc. 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 Position Details

There are presently around $12,136 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 $978.51 million in LYV stocks shares; and PUBLIC INVESTMENT FUND, currently with $911.73 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 February and at the time of the February reporting period, where 295 institutional holders increased their position in Live Nation Entertainment Inc. [NYSE:LYV] by around 10,795,035 shares. Additionally, 273 investors decreased positions by around 16,899,762 shares, while 89 investors held positions by with 139,553,730 shares. The mentioned changes placed institutional holdings at 167,248,527 shares, according to the latest SEC report filing. LYV stock had 70 new institutional investments in for a total of 1,865,540 shares, while 76 institutional investors sold positions of 1,717,979 shares during the same period.


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