Live Nation Entertainment (NYSE:LYV) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Live Nation Entertainment (NYSE:LYV) from a hold rating to a sell rating in a report issued on Tuesday.

Several other equities analysts also recently weighed in on the company. Bank of America began coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Macquarie upped their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday. Roth Mkm upped their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $129.00 on Tuesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market capitalization of $29.97 billion, a PE ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.83. The business has a fifty day moving average price of $112.78 and a 200-day moving average price of $100.62.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the company earned $1.78 EPS. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities analysts expect that Live Nation Entertainment will post 1.11 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,500 shares of company stock worth $17,097,016 in the last three months. Insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth about $41,000. Finally, Family Firm Inc. purchased a new position in Live Nation Entertainment in the 2nd quarter worth about $42,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.