Live Nation Entertainment (NYSE:LYV) Shares Gap Down to $99.77

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $99.77, but opened at $90.99. Live Nation Entertainment shares last traded at $93.34, with a volume of 2,949,844 shares changing hands.

Analysts Set New Price Targets

LYV has been the topic of a number of research reports. Rosenblatt Securities cut their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Roth Mkm raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $114.00 in a research report on Friday, January 12th. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Oppenheimer boosted their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $115.90.

Live Nation Entertainment Price Performance

The company has a market capitalization of $21.47 billion, a P/E ratio of 69.45 and a beta of 1.30. The company’s 50-day moving average price is $98.82 and its two-hundred day moving average price is $91.29. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Live Nation Entertainment by 2.1% during the first quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock worth $1,823,315,000 after buying an additional 317,335 shares in the last quarter. Select Equity Group L.P. lifted its holdings in shares of Live Nation Entertainment by 8.1% in the first quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock worth $805,849,000 after acquiring an additional 862,050 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Live Nation Entertainment by 5.1% in the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after acquiring an additional 429,650 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock worth $590,301,000 after acquiring an additional 33,215 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Live Nation Entertainment by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock worth $460,733,000 after acquiring an additional 323,756 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.