Jeffrey Hinson Sells 944 Shares of Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey Hinson sold 944 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the transaction, the director directly owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Live Nation Entertainment Stock Down 3.6%

Shares of NYSE:LYV traded down $5.93 during mid-day trading on Thursday, hitting $159.90. 3,147,425 shares of the company traded hands, compared to its average volume of 3,052,092. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The stock has a 50-day moving average price of $150.83 and a two-hundred day moving average price of $150.44. The stock has a market cap of $37.55 billion, a P/E ratio of -666.27 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the business earned $0.58 earnings per share. Live Nation Entertainment’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after buying an additional 372,715 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after acquiring an additional 1,001,905 shares during the last quarter. Independent Franchise Partners LLP raised its position in Live Nation Entertainment by 3.5% in the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after purchasing an additional 193,104 shares during the period. Capital World Investors lifted its holdings in Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after buying an additional 237,342 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LYV. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Roth Mkm reiterated a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Wells Fargo & Company initiated coverage on Live Nation Entertainment in a research report on Wednesday, February 25th. They issued an “overweight” rating and a $204.00 target price on the stock. Jefferies Financial Group restated a “hold” rating on shares of Live Nation Entertainment in a research report on Monday. Finally, Bank of America boosted their target price on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $184.40.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.