Insider Selling: Live Nation Entertainment, Inc. (NYSE:LYV) Director Sells 500 Shares of Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Live Nation Entertainment Stock Performance

LYV traded down $7.41 on Thursday, hitting $115.51. The company’s stock had a trading volume of 5,976,729 shares, compared to its average volume of 2,141,802. The firm has a market cap of $26.96 billion, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s 50 day simple moving average is $140.00 and its 200-day simple moving average is $126.32.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly 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. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on LYV shares. Guggenheim increased their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Roth Mkm lifted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently added to or reduced their stakes in LYV. Smartleaf Asset Management LLC lifted its holdings in Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after buying an additional 75 shares during the period. SOA Wealth Advisors LLC. lifted its stake in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP boosted its position in shares of Live Nation Entertainment by 10.4% during the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after purchasing an additional 82 shares in the last quarter. UMB Bank n.a. grew its stake in Live Nation Entertainment by 21.2% in the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after purchasing an additional 93 shares during the period. Finally, Gilbert & Cook Inc. raised its holdings in Live Nation Entertainment by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

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.