Live Nation Entertainment (NYSE:LYV) Given New $205.00 Price Target at JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its target price raised by JPMorgan Chase & Co. from $180.00 to $205.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on LYV. Rothschild & Co Redburn raised their price target on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Wells Fargo & Company lifted their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, UBS Group upped their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a report on Monday. Nineteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.75.

Live Nation Entertainment Trading Down 1.7%

Shares of NYSE LYV opened at $177.77 on Tuesday. Live Nation Entertainment has a 1-year low of $125.34 and a 1-year high of $188.00. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day moving average is $173.01 and its two-hundred day moving average is $160.49. The stock has a market capitalization of $41.87 billion, a P/E ratio of -100.43 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) earnings per share. As a group, research analysts expect that Live Nation Entertainment will post 0.96 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Tema ETFs LLC increased its position in shares of Live Nation Entertainment by 6.2% during the second quarter. Tema ETFs LLC now owns 2,494 shares of the company’s stock worth $457,000 after acquiring an additional 145 shares during the period. E. Ohman J or Asset Management AB raised its stake in shares of Live Nation Entertainment by 8.7% during the second quarter. E. Ohman J or Asset Management AB now owns 5,000 shares of the company’s stock valued at $916,000 after acquiring an additional 400 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Live Nation Entertainment by 12.4% in the second quarter. Handelsbanken Fonder AB now owns 53,855 shares of the company’s stock valued at $9,861,000 after purchasing an additional 5,936 shares during the period. City Holding Co. grew its stake in Live Nation Entertainment by 25.4% in the second quarter. City Holding Co. now owns 2,222 shares of the company’s stock worth $407,000 after purchasing an additional 450 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in Live Nation Entertainment by 3.6% during the 2nd quarter. Fulton Bank N.A. now owns 6,737 shares of the company’s stock worth $1,234,000 after purchasing an additional 231 shares during the period. 74.52% of the stock is currently owned by institutional investors.

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.