Jeffrey T. Hinson Sells 500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV) Stock

Live Nation Entertainment, Inc. (NYSE:LYV) Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Live Nation Entertainment Stock Up 3.0 %

LYV stock opened at $119.25 on Friday. The company has a market cap of $27.83 billion, a P/E ratio of 43.84, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company’s 50-day moving average price is $139.52 and its 200 day moving average price is $126.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley increased their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Citigroup increased their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Roth Mkm increased their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Institutional Trading of Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH acquired a new position in Live Nation Entertainment during the fourth quarter worth about $832,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Live Nation Entertainment during the fourth quarter worth about $8,865,000. Mackenzie Financial Corp raised its position in Live Nation Entertainment by 655.9% during the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock worth $11,761,000 after acquiring an additional 78,807 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Live Nation Entertainment during the fourth quarter worth about $9,449,000. Finally, Neo Ivy Capital Management acquired a new position in Live Nation Entertainment during the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.