Insider Selling: Live Nation Entertainment, Inc. (NYSE:LYV) EVP Sells 34,808 Shares of Stock

Live Nation Entertainment, Inc. (NYSE:LYV) EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president now owns 189,456 shares of the company’s stock, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Live Nation Entertainment Price Performance

NYSE LYV traded down $1.97 during trading hours on Tuesday, reaching $146.33. 1,763,504 shares of the stock traded hands, compared to its average volume of 2,241,016. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $129.91 and a two-hundred day simple moving average of $134.33. The company has a market cap of $33.92 billion, a price-to-earnings ratio of 53.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Roth Mkm dropped their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities decreased their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.07.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of LYV. Amundi increased its stake in shares of Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after buying an additional 39,302 shares during the period. Wealthfront Advisers LLC increased its holdings in Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after buying an additional 33,980 shares during the period. Atria Wealth Solutions Inc. purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $226,000. Aviva PLC grew its stake in shares of Live Nation Entertainment by 1,524.1% during the 4th quarter. Aviva PLC now owns 97,057 shares of the company’s stock worth $12,569,000 after purchasing an additional 91,081 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after acquiring an additional 48,949 shares during the period. 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.