Live Nation Entertainment (NYSE:LYV) Shares Down 7.2% - Should You Sell?

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) shares fell 7.2% on Thursday . The stock traded as low as $114.43 and last traded at $114.01. 2,000,154 shares were traded during mid-day trading, a decline of 6% from the average session volume of 2,125,993 shares. The stock had previously closed at $122.92.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LYV. Guggenheim increased their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Bank of America increased their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Citigroup increased their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley increased their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $157.27.

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Live Nation Entertainment Stock Down 6.0 %

The company has a market capitalization of $26.96 billion, a PE ratio of 42.47, a PEG ratio of 1.81 and a beta of 1.38. The company's 50 day moving average is $140.00 and its two-hundred day moving average is $126.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company's stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.72% of the company's stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in LYV. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $29,000. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $38,000. Murphy & Mullick Capital Management Corp bought a new stake in Live Nation Entertainment during the 4th quarter valued at about $40,000. Finally, Morse Asset Management Inc bought a new stake in Live Nation Entertainment during the 3rd quarter valued at about $42,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.

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