Live Nation Entertainment (NYSE:LYV) Stock Gets Price Target Cut from JPMorgan Chase & Co.

by · The Markets Daily

Live Nation Entertainment (NYSE:LYV – Free Report) had its target price reduced by JPMorgan Chase & Co. from $205.00 to $200.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on LYV. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Wells Fargo & Company dropped their price objective on Live Nation Entertainment from $222.00 to $221.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, UBS Group boosted their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.67.

Check Out Our Latest Report on Live Nation Entertainment

Live Nation Entertainment Stock Up 0.1%

Shares of NYSE:LYV opened at $175.40 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 6.64. The business’s 50 day moving average is $172.84 and its 200 day moving average is $167.41. The stock has a market cap of $41.33 billion, a P/E ratio of -1,031.78 and a beta of 1.15. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $189.24.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. The company had revenue of $10.11 billion during the quarter, compared to the consensus estimate of $9.60 billion. Live Nation Entertainment had a net margin of 0.38% and a return on equity of 55.62%. Live Nation Entertainment’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Sell-side analysts predict that Live Nation Entertainment will post 1.06 EPS for the current year.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan grew its stake in Live Nation Entertainment by 0.3% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company’s stock valued at $3,858,000 after purchasing an additional 66 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Live Nation Entertainment by 5.0% in the third quarter. MGO One Seven LLC now owns 1,499 shares of the company’s stock worth $254,000 after purchasing an additional 72 shares during the last quarter. Legacy Financial Independent Advisors LLC raised its stake in shares of Live Nation Entertainment by 2.0% in the third quarter. Legacy Financial Independent Advisors LLC now owns 3,915 shares of the company’s stock worth $663,000 after purchasing an additional 77 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of Live Nation Entertainment by 7.7% during the second quarter. MCF Advisors LLC now owns 1,188 shares of the company’s stock worth $218,000 after purchasing an additional 85 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Live Nation Entertainment by 9.0% during the third quarter. Allworth Financial LP now owns 1,050 shares of the company’s stock worth $192,000 after purchasing an additional 87 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

(Get Free Report)

Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.

The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.

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