Live Nation Entertainment (NYSE:LYV) EVP Sells $10,474,570.24 in Stock

Live Nation Entertainment, Inc. (NYSE:LYVGet Free Report) EVP Michael Rowles sold 63,776 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Live Nation Entertainment Stock Down 0.2%

Shares of LYV opened at $162.91 on Monday. The stock’s 50-day moving average price is $157.51 and its two-hundred day moving average price is $148.70. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $175.25. The company has a market capitalization of $38.37 billion, a PE ratio of -92.04 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYVGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) earnings per share. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LYV shares. Citizens Jmp started coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target on the stock. Oppenheimer reissued an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Wells Fargo & Company cut their price target on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. UBS Group increased their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Bank of America boosted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.75.

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Key Headlines Impacting Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently bought and sold shares of LYV. Leonteq Securities AG bought a new stake in Live Nation Entertainment in the fourth quarter valued at $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment during the 4th quarter worth about $26,000. Ameriflex Group Inc. grew its stake in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the period. Elyxium Wealth LLC bought a new stake in Live Nation Entertainment in the 4th quarter valued at about $30,000. Finally, DV Equities LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $31,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

(Get Free Report)

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.

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