Insider Selling: Live Nation Entertainment, Inc. (LYV) CEO Sells 70,000 Shares of Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 70,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00. Following the completion of the sale, the chief executive officer now directly owns 185,277 shares in the company, valued at approximately $8,324,495.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Michael Rapino also recently made the following trade(s):

  • On Friday, November 17th, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $45.14, for a total transaction of $9,479,400.00.
  • On Friday, November 10th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $44.93, for a total transaction of $3,145,100.00.
  • On Wednesday, November 8th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00.

Live Nation Entertainment, Inc. (NYSE LYV) traded down $0.02 during trading hours on Friday, hitting $45.34. The stock had a trading volume of 2,243,939 shares, compared to its average volume of 1,376,403. Live Nation Entertainment, Inc. has a 52 week low of $26.41 and a 52 week high of $46.33. The company has a market capitalization of $9,380.00, a PE ratio of 2,308.00 and a beta of 1.06. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the company earned $0.49 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 12.3% compared to the same quarter last year. equities analysts forecast that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current fiscal year.

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Several brokerages have recently weighed in on LYV. Macquarie reaffirmed a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, October 24th. Jefferies Group LLC reissued a “buy” rating and issued a $42.00 target price on shares of Live Nation Entertainment in a research note on Monday, October 16th. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.86.

Large investors have recently made changes to their positions in the business. Chicago Equity Partners LLC bought a new position in Live Nation Entertainment in the 2nd quarter valued at $3,674,000. The Manufacturers Life Insurance Company grew its stake in Live Nation Entertainment by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 198,179 shares of the company’s stock valued at $6,906,000 after purchasing an additional 5,319 shares during the period. BB&T Corp grew its stake in shares of Live Nation Entertainment by 2.8% during the 3rd quarter. BB&T Corp now owns 177,974 shares of the company’s stock worth $7,751,000 after acquiring an additional 4,895 shares during the period. Fisher Asset Management LLC grew its stake in shares of Live Nation Entertainment by 8.2% during the 3rd quarter. Fisher Asset Management LLC now owns 453,765 shares of the company’s stock worth $19,761,000 after acquiring an additional 34,434 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Live Nation Entertainment by 24.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock worth $50,780,000 after acquiring an additional 287,319 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Insider Buying and Selling by Quarter for Live Nation Entertainment (NYSE:LYV)

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