Live Nation Entertainment (NYSE:LYV) Stock: Insider Michael Rapino Sells 195,578 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 195,578 shares of the stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $181.03, for a total value of $35,405,485.34. Following the sale, the chief executive officer owned 4,188,167 shares of the company’s stock, valued at $758,183,872.01. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Live Nation Entertainment Trading Down 1.0%

LYV traded down $1.82 on Friday, hitting $178.32. 3,529,123 shares of the company were exchanged, compared to its average volume of 2,634,714. The firm has a fifty day simple moving average of $172.81 and a two-hundred day simple moving average of $168.28. The company has a debt-to-equity ratio of 6.64, a quick ratio of 0.95 and a current ratio of 0.95. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The stock has a market capitalization of $42.03 billion, a PE ratio of -1,048.94 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Live Nation Entertainment had a return on equity of 55.62% and a net margin of 0.38%. The business had revenue of $10.11 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the firm earned $0.73 EPS. The business’s quarterly revenue was up 18.9% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nissay Asset Management Corp Japan boosted its holdings in shares of Live Nation Entertainment by 0.3% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company’s stock valued at $3,858,000 after purchasing an additional 66 shares during the last quarter. MGO One Seven LLC grew its position in shares of Live Nation Entertainment by 5.0% during the third quarter. MGO One Seven LLC now owns 1,499 shares of the company’s stock valued at $254,000 after purchasing an additional 72 shares in the last quarter. Morse Asset Management Inc increased its holdings in shares of Live Nation Entertainment by 42.9% in the third quarter. Morse Asset Management Inc now owns 250 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Legacy Financial Independent Advisors LLC increased its holdings in shares of Live Nation Entertainment by 2.0% in the third quarter. Legacy Financial Independent Advisors LLC now owns 3,915 shares of the company’s stock worth $663,000 after purchasing an additional 77 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Live Nation Entertainment by 7.7% in the second quarter. MCF Advisors LLC now owns 1,188 shares of the company’s stock worth $218,000 after buying an additional 85 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on LYV shares. Susquehanna decreased their target price on shares of Live Nation Entertainment from $187.00 to $183.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Citigroup reiterated a “market outperform” rating on shares of Live Nation Entertainment in a report on Thursday, October 1st. UBS Group increased their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Roth Capital set a $208.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $203.14.

Key Stories Impacting Live Nation Entertainment

Here are a few of the latest stories about LYV:

• Positive Sentiment: Evercore ISI maintained a Buy rating, while an Oppenheimer analyst reportedly expects LYV shares to rise—supportive analyst views that may bolster investor confidence. Evercore ISI Remains a Buy on Live Nation Entertainment Oppenheimer Analyst Says Live Nation Stock Price Expected to Rise
• Neutral Sentiment: Recent coverage focused on whether LYV is benefiting from record concert demand, highlighting demand as an area investors are watching. Is Live Nation Riding Record Concert Demand?
• Negative Sentiment: CEO Michael Rapino, CFO Joe Berchtold and EVP John Hopmans collectively sold about $54.1 million in shares. The sales reduced their individual holdings by 4.46%, 9.40% and 6.38%, respectively; although each retained a substantial stake, the insider selling could weigh on sentiment. Rapino SEC filing Berchtold SEC filing Hopmans SEC filing

About Live Nation Entertainment

Live Nation Entertainment, Inc. is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events. The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.