Insider Selling: Live Nation Entertainment (NYSE:LYV) CAO Sells $533,600.00 in Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the transaction, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $180.14 on Friday. The stock has a market cap of $42.45 billion, a PE ratio of -159.42 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The firm has a fifty day moving average price of $181.04 and a 200-day moving average price of $167.67. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in Live Nation Entertainment in the second quarter worth $27,000. Kilter Group LLC purchased a new stake in Live Nation Entertainment during the second quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment during the second quarter valued at $27,000. Finally, Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth $25,000. Institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LYV shares. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Sanford C. Bernstein upped their price target on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Rothschild & Co Redburn lifted their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Benchmark raised their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.