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

Live Nation Entertainment (NYSE:LYV) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other research analysts also recently issued research reports about the company. Bank of America started coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer raised their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.71.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $126.98 on Tuesday. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The stock has a market cap of $29.25 billion, a P/E ratio of 135.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33. The stock has a 50 day moving average of $111.36 and a 200-day moving average of $100.15.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. During the same period last year, the business earned $1.78 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts expect that Live Nation Entertainment will post 1.18 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last three months. 2.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in 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 buying an additional 202 shares in the last quarter. UMB Bank n.a. grew its position in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the third quarter valued at $41,000. Finally, Family Firm Inc. acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.