Live Nation Entertainment (NYSE:LYV) Lowered to Sell Rating by Wall Street Zen

Live Nation Entertainment (NYSE:LYV) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wells Fargo & Company started coverage on Live Nation Entertainment in a research report on Wednesday, February 25th. They issued an “overweight” rating and a $204.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Morgan Stanley reiterated an “overweight” rating and set a $185.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Finally, Evercore reissued an “outperform” rating and set a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.40.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $154.14 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment has a 12 month low of $113.20 and a 12 month high of $175.25. The company has a market capitalization of $36.19 billion, a price-to-earnings ratio of -642.25 and a beta of 1.11. The firm’s 50-day moving average is $151.35 and its 200 day moving average is $150.30.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts predict that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction 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 completion of the sale, the director directly owned 48,030 shares of the company’s stock, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently made changes to their positions in LYV. Empowered Funds LLC lifted its stake in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Live Nation Entertainment during the 2nd quarter valued at about $415,000. Allworth Financial LP raised its holdings in shares of Live Nation Entertainment by 48.8% in the 2nd quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after purchasing an additional 147 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Live Nation Entertainment by 14.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 26,528 shares of the company’s stock worth $4,013,000 after purchasing an additional 3,272 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Live Nation Entertainment by 4.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,960 shares of the company’s stock valued at $3,625,000 after purchasing an additional 1,037 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.