Live Nation Entertainment (NYSE:LYV) Raised to "Hold" at StockNews.com

StockNews.com upgraded shares of Live Nation Entertainment (NYSE:LYV - Free Report) from a sell rating to a hold rating in a research report released on Wednesday morning.

Other equities research analysts also recently issued reports about the company. Evercore ISI increased their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Roth Mkm lifted their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Oppenheimer lifted 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, November 12th. Finally, Guggenheim lifted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $141.53.

Live Nation Entertainment Stock Up 1.5 %

LYV traded up $2.07 on Wednesday, reaching $136.51. The company's stock had a trading volume of 1,812,802 shares, compared to its average volume of 2,178,195. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 145.22, a P/E/G ratio of 3.44 and a beta of 1.33. Live Nation Entertainment has a fifty-two week low of $81.38 and a fifty-two week high of $136.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a 50 day moving average of $115.09 and a two-hundred day moving average of $101.62.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion during the quarter, compared to analysts' expectations of $7.75 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts forecast that Live Nation Entertainment will post 1.08 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the sale, the director now owns 53,949 shares of the company's stock, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in LYV. Edgestream Partners L.P. bought a new position in shares of Live Nation Entertainment in the 1st quarter worth about $273,000. O Shaughnessy Asset Management LLC increased its position in Live Nation Entertainment by 9.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,380 shares of the company's stock worth $675,000 after buying an additional 538 shares during the period. UniSuper Management Pty Ltd grew its position in shares of Live Nation Entertainment by 462.6% during the first quarter. UniSuper Management Pty Ltd now owns 11,140 shares of the company's stock worth $1,178,000 after acquiring an additional 9,160 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Live Nation Entertainment by 22.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company's stock worth $10,873,000 after acquiring an additional 18,931 shares during the period. Finally, Shell Asset Management Co. boosted its stake in Live Nation Entertainment by 27.9% during the 1st quarter. Shell Asset Management Co. now owns 16,255 shares of the company's stock valued at $1,719,000 after purchasing an additional 3,544 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

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.