Live Nation Entertainment (NYSE:LYV) Stock Price Target Lowered at JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its price target decreased by JPMorgan Chase & Co. from $205.00 to $200.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on the company. Guggenheim upped their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Oppenheimer set a $100.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, July 28th. Citizens Jmp lifted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a report on Wednesday, July 22nd. Finally, BTIG Research restated a “buy” rating and issued a $215.00 target price on shares of Live Nation Entertainment in a report on Monday, October 19th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.67.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $175.40 on Friday. The business has a 50-day simple moving average of $172.84 and a 200 day simple moving average of $167.41. Live Nation Entertainment has a one year low of $125.34 and a one year high of $189.24. The company has a debt-to-equity ratio of 6.64, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of -1,031.78 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Live Nation Entertainment had a return on equity of 55.62% and a net margin of 0.38%. The business had revenue of $10.11 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently bought and sold shares of LYV. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $626,000. Maven Securities LTD purchased a new stake in Live Nation Entertainment in the second quarter worth $2,283,000. WINTON GROUP Ltd bought a new stake in shares of Live Nation Entertainment in the second quarter valued at $1,115,000. Troluce Capital Advisors LLC bought a new stake in shares of Live Nation Entertainment in the first quarter valued at $50,328,000. Finally, Visualize Group LP purchased a new position in shares of Live Nation Entertainment during the 1st quarter valued at $14,934,000. 74.52% of the stock is currently owned by institutional investors.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.

The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.