Jeffrey T. Hinson Sells 500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Live Nation Entertainment Price Performance

LYV opened at $115.51 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a fifty day moving average price of $140.00 and a 200 day moving average price of $126.32. The stock has a market cap of $26.96 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LYV. Guggenheim boosted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Macquarie raised their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Independent Franchise Partners LLP grew its holdings in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Groupama Asset Managment bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $259,000,000. Norges Bank bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $255,955,000. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $111,094,000. Finally, PointState Capital LP acquired a new stake in shares of Live Nation Entertainment in the third quarter worth $102,762,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.