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

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. “

A number of other equities analysts also recently weighed in on the company. Citigroup downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Saturday, December 30th. Macquarie reissued a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Jefferies Group boosted their price target on Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average target price of $44.00.

Shares of Live Nation Entertainment (NYSE:LYV) traded up $0.67 during midday trading on Thursday, reaching $44.43. The company’s stock had a trading volume of 617,000 shares, compared to its average volume of 1,057,978. The firm has a market capitalization of $9,188.12, a P/E ratio of 2,222.61 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. Live Nation Entertainment has a 1 year low of $27.17 and a 1 year high of $46.99.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. Live Nation Entertainment’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. equities analysts forecast that Live Nation Entertainment will post 0.14 EPS for the current fiscal year.

In other news, EVP Michael Rowles sold 46,511 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $43.35, for a total value of $2,016,251.85. Following the transaction, the executive vice president now owns 192,054 shares of the company’s stock, valued at $8,325,540.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joe Berchtold sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $46.55, for a total value of $931,000.00. Following the completion of the transaction, the chief operating officer now directly owns 77,918 shares in the company, valued at approximately $3,627,082.90. The disclosure for this sale can be found here. Insiders sold 1,106,511 shares of company stock worth $49,467,752 in the last ninety days. 4.77% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Live Nation Entertainment by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 198,179 shares of the company’s stock worth $6,906,000 after buying an additional 5,319 shares in the last quarter. BB&T Corp grew its position in Live Nation Entertainment by 2.8% during the third quarter. BB&T Corp now owns 177,974 shares of the company’s stock worth $7,751,000 after buying an additional 4,895 shares in the last quarter. Fisher Asset Management LLC grew its position in Live Nation Entertainment by 8.2% during the third quarter. Fisher Asset Management LLC now owns 453,765 shares of the company’s stock worth $19,761,000 after buying an additional 34,434 shares in the last quarter. Colonial Trust Advisors acquired a new stake in Live Nation Entertainment during the second quarter worth approximately $587,000. Finally, Chicago Equity Partners LLC grew its position in Live Nation Entertainment by 87.3% during the third quarter. Chicago Equity Partners LLC now owns 197,455 shares of the company’s stock worth $8,599,000 after buying an additional 92,035 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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Live Nation Entertainment Company Profile

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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