Live Nation Entertainment (NYSE:LYV) Downgraded to Neutral on Northcoast Research

Northcoast Research downgraded the company’s shares Live Nation Entertainment (NYSE:LYV – Free Report) from a buy rating to neutral, according to a research report published on Tuesday morning, MarketBeat Ratings reports.

Other analysts have also issued reports on the company. TD Cowen reissued a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report issued on Tuesday, April 16. Roth Mkm reissued a Buy rating and set a $120.00 price target on shares of Live Nation Entertainment on Friday, May 24. In a research report on Thursday, May 9, Redburn Atlantic upgraded Live Nation Entertainment from a neutral rating to a buy rating and raised their price objective for the company from $114.00 to $115.00. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, May 6. Finally, Morgan Stanley increased their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Two investment analysts rated the company’s shares with a hold rating, and thirteen of them issued a buy rating. Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $116.42, according to MarketBeat.com.

Read our latest analysis for Live Nation Entertainment

Live Nation Entertainment shares fell 1.1%

Shares of Live Nation Entertainment closed at $94.89 on Tuesday. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 90.37, a price-to-earnings growth ratio of 1.96 and a beta of 1.34. Live Nation Entertainment has a 52-week low of $76.48 and a 52-week high of $107.24. The company’s 50-day moving average price is $97.67 and its 200-day moving average price is $93.59. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment achieved a net margin of 2.22% and a return on equity of 90.67%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company reported earnings per share ($0.25). The company’s revenue for the quarter was up 21.5% year-over-year. As a group, sell-side analysts anticipate that Live Nation Entertainment will post earnings per share of 1.38 for the current year.

Confidential activity

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the closing of the transaction, the director now directly owns 59,374 shares of the company’s stock valued at $5,967,087. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Insiders own 2.85% of the company’s shares.

Institutional investors rate Live Nation Entertainment

Many hedge funds have recently made changes to their positioning in the industry. In the fourth quarter, Creative Financial Designs Inc. ADV increased its stake in Live Nation Entertainment by 148.1%. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. YHB Investment Advisors Inc. acquired new shares of Live Nation Entertainment during the first quarter worth $32,000. During the third quarter, Raleigh Capital Management Inc. acquired new shares of Live Nation Entertainment worth USD 33,000. Rise Advisors LLC increased its holdings in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in Live Nation Entertainment by 9,800.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after acquiring an additional 490 shares in the last quarter. Institutional investors hold 74.52% of the company’s shares.

About Live Nation entertainment

(Get the free report)

Live Nation Entertainment, Inc operates as a global live entertainment company. It operates through the concerts, ticket sales and sponsorship and advertising segments. The Concerts segment promotes live music events at venues it owns or operates and at venues rented by third parties. This segment operates and manages music venues; produces music festivals; creates and streams related content; and offers artists management and other services.

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