Live Nation Entertainment (NYSE:LYV) Cut to “Strong Sell” at Zacks Research

Live Nation Entertainment (NYSE:LYV) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

Other research analysts have also issued research reports about the company. Roth Capital set a $208.00 target price on Live Nation Entertainment in a report on Friday, July 31st. BTIG Research reiterated a “buy” rating and set a $215.00 price target on shares of Live Nation Entertainment in a report on Monday. Morgan Stanley increased their price target on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company raised their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Benchmark lifted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Twenty research 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. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $197.95.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $174.86 on Monday. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The stock has a market cap of $41.20 billion, a price-to-earnings ratio of -154.75 and a beta of 1.17. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50-day simple moving average is $174.62 and its 200 day simple moving average is $171.81.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, research analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its holdings in Live Nation Entertainment by 134.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 7,843 shares of the company’s stock valued at $1,328,000 after purchasing an additional 4,493 shares during the period. Kenora Financial LLC increased its position in Live Nation Entertainment by 90.2% in the third quarter. Kenora Financial LLC now owns 9,538 shares of the company’s stock worth $1,615,000 after buying an additional 4,522 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Live Nation Entertainment by 12.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,621 shares of the company’s stock valued at $5,184,000 after buying an additional 3,343 shares during the period. Cordatus Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the third quarter valued at $1,600,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Live Nation Entertainment by 10.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,067 shares of the company’s stock valued at $519,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment News Roundup

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Morgan Stanley raised its price target from $200 to $215 and maintained an Overweight rating, implying substantial potential upside from current levels. Morgan Stanley raises Live Nation price target
• Positive Sentiment: BTIG reaffirmed its Buy rating and set a $215 price target, signaling continued confidence in Live Nation’s concert and live-events outlook. BTIG maintains Buy rating on Live Nation
• Positive Sentiment: Live Nation completed a note sale and extended its credit facilities to 2031, potentially improving financing flexibility and reducing near-term refinancing pressure. Live Nation closes note sale and extends credit
• Neutral Sentiment: MarketWatch reported that LYV gained during Tuesday’s session but underperformed its competitors, suggesting the broader market move was not accompanied by strong relative buying interest. Live Nation stock underperforms competitors
• Negative Sentiment: CFRA downgraded Live Nation to Sell and separately reaffirmed that rating, creating a significant counterweight to the bullish $215 targets and likely limiting enthusiasm for the stock. CFRA downgrades Live Nation to Sell

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.