Live Nation Entertainment (NYSE:LYV) Upgraded to Hold at StockNews.com

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

A number of other equities research analysts have also recently issued reports on the company. Evercore ISI boosted their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Roth Mkm boosted their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer increased their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Guggenheim upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Live Nation Entertainment Stock Up 1.4 %

Shares of NYSE:LYV opened at $134.44 on Wednesday. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $134.53. The company has a market capitalization of $31.24 billion, a PE ratio of 143.02, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The business has a fifty day moving average price of $114.31 and a two-hundred day moving average price of $101.37. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced 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. The business had revenue of $7.65 billion for 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%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Analysts forecast that Live Nation Entertainment will post 1.08 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the sale, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

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

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.