Live Nation Entertainment (NYSE:LYV) Research Coverage Started at Citizens Jmp

Citizens Jmp assumed coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a market outperform rating and a $190.00 price target on the stock.

A number of other brokerages also recently weighed in on LYV. Wolfe Research lifted their target price on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Wall Street Zen downgraded Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. Evercore reissued an “outperform” rating and issued a $198.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Finally, UBS Group upped their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.67.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $152.76 on Monday. The stock has a market capitalization of $35.87 billion, a PE ratio of -636.51 and a beta of 1.14. The business’s 50 day simple moving average is $153.28 and its 200 day simple moving average is $148.94. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. Live Nation Entertainment has a one year low of $113.20 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.01% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Axxcess Wealth Management LLC grew its stake in Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after acquiring an additional 75 shares during the period. Vident Advisory LLC increased its holdings in shares of Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after acquiring an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. raised its position in shares of Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares during the period. Private Trust Co. NA lifted its holdings in shares of Live Nation Entertainment by 24.4% in the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after purchasing an additional 82 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after purchasing an additional 82 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

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.