Live Nation Entertainment (NYSE:LYV – Free Report) had its price objective increased by JPMorgan Chase & Co. from $180.00 to $205.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Wells Fargo & Company upped their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citizens Jmp began coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 target price on the stock. Susquehanna cut shares of Live Nation Entertainment from a “positive” rating to a “neutral” rating and lifted their target price for the stock from $181.00 to $186.00 in a research note on Tuesday. Finally, Zacks Research downgraded Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.95.
Check Out Our Latest Research Report on LYV
Live Nation Entertainment Price Performance
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business earned ($0.32) EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Live Nation Entertainment will post 0.96 EPS for the current fiscal year.
Insider Buying and Selling at Live Nation Entertainment
In other news, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by corporate insiders.
Institutional Trading of Live Nation Entertainment
Hedge funds have recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth approximately $30,000. Finally, DV Equities LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.
About Live Nation Entertainment
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.
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