Susquehanna Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $180.00

Live Nation Entertainment (NYSE:LYVFree Report) had its price target decreased by Susquehanna from $183.00 to $180.00 in a research report released on Thursday,MarketScreener reports. Susquehanna currently has a positive rating on the stock.

A number of other analysts have also commented on LYV. Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Morgan Stanley reissued an “overweight” rating and issued a $185.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Moffett Nathanson reduced their target price on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Twenty-one investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.38.

Check Out Our Latest Report on LYV

Live Nation Entertainment Stock Down 2.5%

LYV stock opened at $156.54 on Thursday. Live Nation Entertainment has a twelve month low of $122.08 and a twelve month high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm has a market cap of $36.75 billion, a PE ratio of -652.23 and a beta of 1.15. The business has a 50 day moving average of $157.20 and a 200 day moving average of $148.50.

Live Nation Entertainment (NYSE:LYVGet Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. On average, research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new position in Live Nation Entertainment during the fourth quarter valued at $25,000. Nvest Wealth Strategies Inc. purchased a new position in Live Nation Entertainment during the fourth quarter valued at $26,000. Ameriflex Group Inc. lifted its position in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Elyxium Wealth LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at $30,000. Finally, DV Equities LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at $31,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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About Live Nation Entertainment

(Get Free Report)

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.

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