Live Nation Entertainment (NYSE:LYV – Get Free Report)‘s stock had its “sell” rating reaffirmed by equities researchers at Cfra in a research note issued to investors on Tuesday, MarketBeat.com reports.
A number of other research analysts have also recently issued reports on LYV. Weiss Ratings cut shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Roth Capital set a $208.00 price target on Live Nation Entertainment in a research report on Friday, July 31st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $220.00 price target on shares of Live Nation Entertainment in a report on Tuesday, October 13th. Finally, Citigroup reiterated a “market outperform” rating on shares of Live Nation Entertainment in a research report on Thursday, October 1st. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.95.
Read Our Latest Research Report on LYV
Live Nation Entertainment Price Performance
LYV stock traded up $1.33 during trading on Tuesday, hitting $172.13. 37,586 shares of the stock traded hands, compared to its average volume of 2,514,930. Live Nation Entertainment has a one year low of $125.34 and a one year high of $189.24. The stock has a market cap of $40.56 billion, a price-to-earnings ratio of -152.85 and a beta of 1.17. The company has a 50 day simple moving average of $174.79 and a 200 day simple moving average of $171.65. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities analysts expect that Live Nation Entertainment will post 1.12 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the transaction, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.89% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of LYV. Kenora Financial LLC raised its position in shares of Live Nation Entertainment by 90.2% during the third quarter. Kenora Financial LLC now owns 9,538 shares of the company’s stock worth $1,615,000 after acquiring an additional 4,522 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Live Nation Entertainment by 12.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,621 shares of the company’s stock valued at $5,184,000 after acquiring an additional 3,343 shares during the period. Cordatus Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the third quarter valued at $1,600,000. V Square Quantitative Management LLC boosted its holdings in Live Nation Entertainment by 10.2% in the third quarter. V Square Quantitative Management LLC now owns 3,067 shares of the company’s stock valued at $519,000 after acquiring an additional 285 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Live Nation Entertainment by 253.4% in the third quarter. Assenagon Asset Management S.A. now owns 374,747 shares of the company’s stock valued at $63,445,000 after acquiring an additional 268,710 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.
The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.
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