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

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

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Oppenheimer raised their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday. Guggenheim upped their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday. Macquarie raised their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Benchmark upped their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.71.

Live Nation Entertainment Stock Performance

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

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.78 EPS. Equities research analysts predict that Live Nation Entertainment will post 1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on 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 directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. The trade was a 0.00 % 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, CEO Michael Rapino sold 98,849 shares of the firm’s 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 in the company, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 over the last quarter. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

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

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.