LYV - Live Nation Entertainment Inc.: The Winning Streak Continues (LYV)
Live Nation Entertainment Inc. (NYSE:LYV) traded today at a new 52-week high of $103.90. So far today approximately 280,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.
Over the past year, Live Nation Entertainment Inc. has traded in a range of $47.97 to $103.90 and is now at $103.75, 116% above that low.
Live Nation is the largest live entertainment firm in the world with over 570 million fans served in 44 countries in 2018 by the company's concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls over 235 venues including the House of Blues, the Hollywood Palladium, and Spark Arena in New Zealand. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 480 million tickets for over 12,000 clients in 2018. The firm's artist management agencies have over 400 clients. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans. Liberty Media owns 33% of Live Nation, held under its SiriusXM tracking stock.
There is potential upside of 15.5% for shares of Live Nation Entertainment Inc. based on a current price of $103.75 and an average consensus analyst price target of $119.88.
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