Live Nation Entertainment (NYSE:LYV) Now Covered by Citizens Jmp

Citizens Jmp started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report released on Monday, Marketbeat Ratings reports. The firm issued a market outperform rating and a $190.00 price target on the stock.

Several other brokerages have also commented on LYV. Weiss Ratings upgraded Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Wolfe Research boosted their price target on Live Nation Entertainment from $175.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Moffett Nathanson reduced their price objective on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.67.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $148.41 on Monday. The company has a market capitalization of $34.85 billion, a PE ratio of -618.36 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment has a twelve month low of $113.20 and a twelve month high of $175.25. The firm has a fifty day simple moving average of $152.79 and a 200 day simple moving average of $149.06.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results 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). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction that occurred 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 owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of the company. Leonteq Securities AG bought a new stake in Live Nation Entertainment during the 4th quarter valued at $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at $26,000. Ameriflex Group Inc. grew its holdings in shares of 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 buying an additional 84 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $30,000. Finally, DV Equities LLC bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $31,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

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.