Live Nation Entertainment, Inc. (NYSE:LYV) EVP Sells $9,811,334.40 in Stock

Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Live Nation Entertainment Trading Down 1.8 %

Shares of Live Nation Entertainment stock opened at $141.86 on Thursday. The company has a fifty day simple moving average of $139.87 and a 200-day simple moving average of $123.69. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 52.15, 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 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after acquiring an additional 420 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Live Nation Entertainment by 17.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock valued at $316,000 after purchasing an additional 434 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Live Nation Entertainment by 11,822.2% in the third quarter. International Assets Investment Management LLC now owns 10,730 shares of the company’s stock valued at $1,175,000 after buying an additional 10,640 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Live Nation Entertainment by 8.6% during the third quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the company’s stock valued at $964,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Oppenheimer raised their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Citigroup lifted their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. TD Cowen increased their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

About Live Nation Entertainment

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.