Live Nation Entertainment (NYSE:LYV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California. “

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LYV has been the topic of several other reports. Citigroup lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Friday, December 22nd. Guggenheim reaffirmed a “buy” rating and set a $53.00 price target on shares of Live Nation Entertainment in a report on Thursday, March 1st. Finally, Macquarie reaffirmed a “buy” rating and set a $55.00 price target on shares of Live Nation Entertainment in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $46.86.

LYV stock opened at $42.50 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.38. Live Nation Entertainment has a 1-year low of $28.82 and a 1-year high of $49.11. The company has a market cap of $9,246.86, a PE ratio of -81.73 and a beta of 0.99.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by ($0.04). The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.06 billion. Live Nation Entertainment had a negative net margin of 0.24% and a negative return on equity of 1.71%. equities research analysts predict that Live Nation Entertainment will post 0.37 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in LYV. William Blair Investment Management LLC boosted its position in Live Nation Entertainment by 35.9% during the 4th quarter. William Blair Investment Management LLC now owns 4,138,611 shares of the company’s stock worth $176,181,000 after buying an additional 1,093,022 shares during the period. Renaissance Technologies LLC boosted its position in Live Nation Entertainment by 25.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,767,366 shares of the company’s stock worth $160,377,000 after buying an additional 758,666 shares during the period. Wells Fargo & Company MN boosted its position in Live Nation Entertainment by 29.1% during the 4th quarter. Wells Fargo & Company MN now owns 2,786,851 shares of the company’s stock worth $118,636,000 after buying an additional 627,695 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $26,704,000. Finally, Millennium Management LLC boosted its position in Live Nation Entertainment by 182.1% during the 4th quarter. Millennium Management LLC now owns 734,470 shares of the company’s stock worth $31,266,000 after buying an additional 474,071 shares during the period. 69.06% of the stock is currently owned by institutional investors.

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About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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