Live Nation Entertainment (NYSE: LYV) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
Live Nation Entertainment, Inc. (Live Nation), formerly Live Nation, Inc., is a producer of live music concerts worldwide. Live Nation owns, operates, and has booking rights for, and has an equity interest in 142 venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, the Hollywood Palladium, the Heineken Music Hall in Amsterdam and the O2 Dublin. The Company operates in three business segments: North American Music, International Music and Ticketing. On February 10, 2009, Live Nation acquired Ticketmaster Entertainment LLC (Ticketmaster). In February 2009, the Company acquired a 51% interest in Brand New Live B.V. (Brand New Live), event and magazine assets in the Netherlands for the Pleasure PAAS Party and in March 2009, it acquired a 77.5% interest in Tecjet Limited (Tecjet). In December 2009, Live Nation sold 20% interest in Marek Lieberberg Konzertagentur (MLK).
Live Nation Entertainment opened at 10.19 on Tuesday. Live Nation Entertainment has a 1-year low of $7.14 and a 1-year of $12.44. The stock has a 50-day moving average of $8.80 and a 200-day moving average of $9.22. The company’s market cap is $1.897 billion.