Live Nation Entertainment (NYSE:LYV) Stock Price Target Cut by Wells Fargo & Company

Live Nation Entertainment (NYSE:LYV) had its price target dropped by analysts at Wells Fargo & Company from $222.00 to $221.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 26.05% from the company’s previous close.

A number of other equities analysts have also weighed in on LYV. BTIG Research restated a “buy” rating and issued a $215.00 price objective on shares of Live Nation Entertainment in a report on Monday, October 19th. Morgan Stanley increased their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Weiss Ratings lowered Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. UBS Group boosted their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $220.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, October 13th. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.90.

Live Nation Entertainment Stock Down 3.3%

Live Nation Entertainment stock traded down $5.92 during trading hours on Friday, hitting $175.33. The stock had a trading volume of 789,129 shares, compared to its average volume of 2,512,298. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock has a market capitalization of $41.31 billion, a P/E ratio of -155.68 and a beta of 1.15. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $189.24. The stock’s 50-day moving average price is $172.93 and its 200-day moving average price is $167.23.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 5th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $10.11 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. Equities research analysts anticipate that Live Nation Entertainment will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Burkett Financial Services LLC purchased a new stake in Live Nation Entertainment during the second quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment in the second quarter valued at about $27,000. Kilter Group LLC purchased a new position in Live Nation Entertainment in the second quarter worth about $27,000. Transamerica Financial Advisors LLC purchased a new position in Live Nation Entertainment in the second quarter worth about $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at about $32,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment News Summary

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Q3 adjusted earnings were $1.69 per share, above the roughly $1.50 consensus and up from $0.73 a year earlier. Revenue rose 18.9% year over year to $10.11 billion, exceeding the $9.60 billion estimate. Live Nation Q3 results
• Positive Sentiment: Coverage highlighted record attendance of 61 million fans, suggesting sustained demand for live events and supporting the quarter’s revenue growth. Live Nation Q3 attendance and revenue
• Neutral Sentiment: A report said ETFs were net sellers of LYV on Nov. 3, a potential source of trading pressure, though it does not establish a reason for the shares’ current move. ETF activity in Live Nation
• Negative Sentiment: Despite the earnings beat, LYV shares declined. The supplied coverage offers no clear company-specific negative catalyst, so the drop may reflect market expectations or trading factors rather than weak reported results.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.