Live Nation Entertainment’s (LYV) “Sell” Rating Reiterated at Cfra

Cfra reiterated their sell rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note published on Tuesday morning, MarketBeat reports.

LYV has been the subject of several other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Live Nation Entertainment in a report on Thursday, October 1st. Wells Fargo & Company upped their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Benchmark raised their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $197.95.

Live Nation Entertainment Stock Performance

LYV opened at $174.74 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $189.24. The business has a 50 day moving average of $174.16 and a 200-day moving average of $172.07. The stock has a market cap of $41.17 billion, a price-to-earnings ratio of -154.64 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment will post 1.06 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This trade represents a 25.10% 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 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several institutional investors have recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in Live Nation Entertainment during the 2nd quarter worth $26,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $27,000. Meeder Asset Management Inc. bought a new stake in shares of Live Nation Entertainment in the second quarter valued at about $27,000. Transamerica Financial Advisors LLC bought a new stake in shares of Live Nation Entertainment in the second quarter valued at about $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Live Nation Entertainment in the second quarter valued at about $32,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.