Live Nation Entertainment (NYSE:LYV) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Live Nation Entertainment (NYSE:LYV) from a hold rating to a sell rating in a research report report published on Tuesday.

Other equities analysts also recently issued reports about the company. Oppenheimer upped their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Benchmark lifted their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Macquarie upped their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Price Performance

NYSE LYV opened at $129.00 on Tuesday. The company has a market cap of $29.97 billion, a PE ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.83. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. The firm’s 50 day moving average price is $112.78 and its 200-day moving average price is $100.62.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the business posted $1.78 EPS. The business’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Capo sold 5,000 shares of the firm’s 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 sale, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. This trade represents a 28.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,500 shares of company stock worth $17,097,016 in the last three months. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LYV. Janney Montgomery Scott LLC raised its position in Live Nation Entertainment by 442.1% during the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company’s stock worth $1,331,000 after acquiring an additional 10,262 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Live Nation Entertainment by 27.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company’s stock valued at $495,000 after buying an additional 1,002 shares in the last quarter. Empowered Funds LLC acquired a new stake in Live Nation Entertainment in the 1st quarter worth about $281,000. Oppenheimer & Co. Inc. purchased a new stake in Live Nation Entertainment during the 1st quarter worth approximately $212,000. Finally, Headlands Technologies LLC acquired a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $138,000. Hedge funds and other 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.