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

Live Nation Entertainment (NYSE:LYV) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other equities research analysts also recently commented on LYV. Roth Mkm increased their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America assumed coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.77.

Live Nation Entertainment Stock Up 4.7 %

Shares of LYV traded up $5.87 during mid-day trading on Tuesday, hitting $129.67. 6,887,049 shares of the company’s stock were exchanged, compared to its average volume of 2,159,983. The company has a market cap of $29.87 billion, a PE ratio of 122.33, a P/E/G ratio of 3.03 and a beta of 1.33. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76. The company has a 50-day simple moving average of $110.04 and a 200 day simple moving average of $99.68.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 EPS. On average, research analysts forecast that Live Nation Entertainment will post 1.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the transaction, the director now owns 15,128 shares in the company, valued at $1,460,759.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,000 shares of company stock worth $17,238,181. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LYV. Select Equity Group L.P. raised its holdings in Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. grew its position in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares during the period. Vulcan Value Partners LLC grew its position in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after buying an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Live Nation Entertainment by 85.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after buying an additional 476,981 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Live Nation Entertainment by 34.4% during the 1st quarter. Bessemer Group Inc. now owns 1,397,185 shares of the company’s stock worth $147,781,000 after buying an additional 357,436 shares during the period. 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.