Live Nation Entertainment (NYSE:LYV) Price Target Raised to $205.00 at JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $180.00 to $205.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.96% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Citizens Jmp assumed coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Rothschild & Co Redburn increased their price target on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. Nineteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $193.75.

Live Nation Entertainment Trading Down 2.3%

Shares of NYSE LYV traded down $4.07 during midday trading on Tuesday, reaching $176.79. The stock had a trading volume of 438,849 shares, compared to its average volume of 2,785,505. The firm has a market cap of $41.64 billion, a price-to-earnings ratio of -99.87 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $188.00. The company’s 50 day moving average price is $172.77 and its 200 day moving average price is $160.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company posted ($0.32) EPS. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that Live Nation Entertainment will post 0.96 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in LYV. Vident Advisory LLC grew its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. grew its holdings 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 valued at $272,000 after buying an additional 80 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of 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 acquiring an additional 82 shares during the period. Finally, Root Financial Partners LLC raised its stake in Live Nation Entertainment by 37.4% in the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.