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

Live Nation Entertainment, Inc. (NYSE:LYV) shares gapped down before the market opened 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Roth Mkm upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $114.00 in a research note on Friday, January 12th. Finally, Rosenblatt Securities dropped their price target on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.70.

Live Nation Entertainment Trading Down 0.4 %

The company has a market cap of $21.19 billion, a price-to-earnings ratio of 69.04 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s fifty day moving average price is $98.97 and its 200-day moving average price is $91.36.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s 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 completion of the sale, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia lifted its holdings in Live Nation Entertainment by 6.9% in the third quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock worth $46,566,000 after purchasing an additional 36,298 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Live Nation Entertainment by 13.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 567,995 shares of the company’s stock valued at $53,164,000 after acquiring an additional 66,390 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $1,151,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Live Nation Entertainment by 9,800.0% in 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 during the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in Live Nation Entertainment by 46.3% in the 4th quarter. DAVENPORT & Co LLC now owns 1,141,272 shares of the company’s stock valued at $107,008,000 after acquiring an additional 361,103 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.