JP Morgan Initiates Coverage on Live Nation Entertainment to Overweight

JP Morgan Initiates Coverage on Live Nation Entertainment(NYSE:LYV). The shares have been rated Overweight. The rating by JP Morgan was issued on Aug 18, 2016.

Live Nation Entertainment (LYV) made into the market gainers list on Mondays trading session with the shares advancing 1.11% or 0.29 points. Due to strong positive momentum, the stock ended at $26.5, which is also near the day’s high of $26.62. The stock began the session at $26.29 and the volume stood at 8,47,741 shares. The 52-week high of the shares is $29.68 and the 52 week low is $18.77. The company has a current market capitalization of $5,382 M and it has 20,30,85,140 shares in outstanding.

Live Nation Entertainment(LYV) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.18B. Analysts had an estimated revenue of $1.88B. Earnings per share were $0.13. Analysts had estimated an EPS of $0.08.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Robert Ted Iii Enloe (director) sold 5,363 shares at $23.54 per share price.Also, On Nov 12, 2015, Jeffrey T. Hinson (director) sold 10,000 shares at $26.59 per share price.On Nov 4, 2015, Randall Thomas Mays (director) sold 50,000 shares at $27.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Live Nation Entertainment Inc. (Live Nation) is a live entertainment company. The Company core businesses consist of the promotion of live events including ticketing sponsorship and advertising and artist management. The Company operates through four segments: segments are Concerts Ticketing Artist Nation and Sponsorship & Advertising. It connects around 519 million fans across its platforms in 33 countries. The Company is a producer of live music concerts around the world that connects nearly 59 million fans to almost 23000 events for over 2700 artists. The Concerts segment is involved in the global promotion of live music events. The Ticketing segment is primarily an agency business that sells tickets for events. The Artist Nation segment is a provider of management services to music artists. The Sponsorship & Advertising segment through a sales force creates and maintains relationships with sponsors to allow businesses to reach customers.

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