Live Nation Entertainment, Inc. (NYSE:LYV) EVP Sells $9,811,334.40 in Stock

Live Nation Entertainment, Inc. (NYSE:LYV) EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Live Nation Entertainment Stock Down 0.8 %

Shares of Live Nation Entertainment stock opened at $140.97 on Friday. The firm has a market cap of $32.76 billion, a PE ratio of 51.83, a P/E/G ratio of 1.81 and a beta of 1.38. The business’s 50 day simple moving average is $140.05 and its 200 day simple moving average is $123.81. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75.

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

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYV. Smartleaf Asset Management LLC increased its position in shares of Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after acquiring an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in Live Nation Entertainment by 19.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares in the last quarter. Western Pacific Wealth Management LP increased its position in shares of Live Nation Entertainment by 10.4% during the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after purchasing an additional 82 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Live Nation Entertainment by 21.2% in the 4th quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after buying an additional 93 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

About Live Nation Entertainment

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.