Citizens Jmp Begins Coverage on Live Nation Entertainment (NYSE:LYV)

Equities research analysts at Citizens Jmp initiated coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “market outperform” rating and a $190.00 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 24.49% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group raised their price target on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wolfe Research upped their price objective on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Sanford C. Bernstein boosted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $185.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $184.67.

Live Nation Entertainment Stock Up 2.6%

Shares of NYSE LYV opened at $152.62 on Monday. The stock has a fifty day moving average price of $153.02 and a 200 day moving average price of $148.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment has a 12-month low of $113.20 and a 12-month high of $175.25. The company has a market cap of $35.84 billion, a P/E ratio of -635.93 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. Research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the sale, the director owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares in the last quarter. Cetera Investment Advisers lifted its stake in Live Nation Entertainment by 11.1% during the second quarter. Cetera Investment Advisers now owns 12,468 shares of the company’s stock worth $1,886,000 after purchasing an additional 1,243 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Live Nation Entertainment by 11.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,083 shares of the company’s stock worth $466,000 after buying an additional 307 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Live Nation Entertainment by 18.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,155 shares of the company’s stock worth $629,000 after acquiring an additional 640 shares during the last quarter. Finally, Norges Bank acquired a new position in Live Nation Entertainment in the second quarter valued at approximately $198,336,000. 74.52% of the stock is owned by institutional investors.

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.