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

Live Nation Entertainment (NYSE:LYV) had its target price reduced by analysts at JPMorgan Chase & Co. from $205.00 to $200.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.02% from the stock’s current price.

Several other research firms also recently commented on LYV. Citizens Jmp boosted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Wells Fargo & Company decreased their price target on shares of Live Nation Entertainment from $222.00 to $221.00 and set an “overweight” rating on the stock in a research note on Friday. Benchmark boosted their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $197.67.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $175.40 on Friday. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $189.24. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of -1,031.78 and a beta of 1.15. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 6.64. The firm has a 50 day moving average of $172.84 and a 200 day moving average of $167.41.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. The firm had revenue of $10.11 billion for the quarter, compared to the consensus estimate of $9.60 billion. Live Nation Entertainment had a return on equity of 55.62% and a net margin of 0.38%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. On average, research analysts anticipate that Live Nation Entertainment will post 1.06 earnings per share for the current year.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the 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 owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of LYV. Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Bank of America Corp DE purchased a new position in Live Nation Entertainment in the 2nd quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board purchased a new position in Live Nation Entertainment in the 2nd quarter worth approximately $859,018,000. Bessemer Group Inc. raised its stake in shares of Live Nation Entertainment by 25.8% in the first quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock worth $353,690,000 after purchasing an additional 475,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Live Nation Entertainment by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock valued at $212,502,000 after purchasing an additional 143,432 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.