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

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

A number of other brokerages also recently weighed in on LYV. Evercore ISI raised their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Benchmark boosted their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Bank of America boosted their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $134.44 on Wednesday. The firm has a market cap 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 company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $114.31 and its two-hundred day moving average price is $101.37. Live Nation Entertainment has a one year low of $81.38 and a one year high of $134.53.

Live Nation Entertainment (NYSE:LYV) last posted 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 business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. As a group, research analysts expect that Live Nation Entertainment will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the transaction, the director now directly owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joe Berchtold sold 29,310 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 $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. This represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 over the last 90 days. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after purchasing an additional 155,920 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after purchasing an additional 87,032 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its holdings in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares in the last quarter. 74.52% of the stock is owned by 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.