JPMorgan Chase & Co. Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $178.00

Live Nation Entertainment (NYSE:LYV) had its price target decreased by JPMorgan Chase & Co. from $180.00 to $178.00 in a research report report published on Thursday morning,MarketScreener reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Zacks Research downgraded Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Oppenheimer restated an “outperform” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Guggenheim boosted their price target on Live Nation Entertainment from $180.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Finally, Susquehanna lowered their price target on Live Nation Entertainment from $183.00 to $180.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Twenty-one equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.29.

Live Nation Entertainment Price Performance

NYSE LYV opened at $156.80 on Thursday. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $175.25. The stock’s 50-day moving average is $157.46 and its two-hundred day moving average is $148.45. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $36.82 billion, a P/E ratio of -653.31 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. On average, analysts anticipate that Live Nation Entertainment will post 1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the sale, the director directly owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC boosted its holdings in Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after purchasing an additional 75 shares in the last quarter. Vident Advisory LLC boosted its holdings in Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. boosted its holdings in Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after purchasing an additional 80 shares in the last quarter. Private Trust Co. NA boosted its holdings in Live Nation Entertainment by 24.4% during the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after purchasing an additional 82 shares in the last quarter. Finally, Sumitomo Life Insurance Co. boosted its holdings in Live Nation Entertainment by 1.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after purchasing an additional 82 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.