Live Nation Entertainment (NYSE:LYV) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of Live Nation Entertainment (NYSE:LYV) from a hold rating to a sell rating in a report released on Tuesday morning.

A number of other equities analysts have also recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Macquarie raised their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Bank of America began coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.77.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $129.67 on Tuesday. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76. The stock has a market cap of $29.87 billion, a PE ratio of 137.95, a PEG ratio of 3.05 and a beta of 1.33. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50 day moving average price is $110.72 and its two-hundred day moving average price is $99.96.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 91.89%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. As a group, analysts forecast that Live Nation Entertainment will post 1.16 EPS for the current year.

Insider Activity

In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock valued at $17,238,181 in the last quarter. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of institutional investors have recently bought and sold shares of LYV. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. UMB Bank n.a. boosted its holdings in Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Reston Wealth Management LLC bought a new stake in Live Nation Entertainment in the 3rd quarter valued at about $41,000. Family Firm Inc. bought a new stake in Live Nation Entertainment in the 2nd quarter valued at about $42,000. Finally, Cromwell Holdings LLC raised its position in shares of Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.