Live Nation Entertainment (NYSE:LYV) Trading Down 7.2% Following Insider Selling

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price fell 7.2% during trading on Thursday following insider selling activity. The company traded as low as $114.43 and last traded at $114.01. 2,000,154 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 2,125,993 shares. The stock had previously closed at $122.92.

Specifically, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value 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 $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LYV shares. Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Stock Performance

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 has a 50 day moving average of $139.52 and a 200 day moving average of $126.41. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly 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. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $29,000. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $31,000. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $40,000. Finally, Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $42,000. 74.52% of the stock is owned by institutional investors.

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.