Live Nation Entertainment, Inc. (NYSE:LYV – Buy Rating) CEO Michael Rapinoe sold 78,000 shares of the stock in a transaction dated Thursday, September 15th. The shares traded at an average price of $92.66 for a total turnover of $7,227,480.00. Following the completion of the transaction, the CEO now owns 3,711,273 shares in the company, valued at approximately $343,886,556.18. The sale was disclosed in a filing with the SEC available at this link.
Michael Rapinoe also recently traded the following:
Performance at the Live Nation Entertainment Awards
Shares of Live Nation Entertainment stock opened at $87.43 on Friday. Live Nation Entertainment, Inc. It has a 12-month low of $79.50 and a 12-month high of $127.75. The stock has a market cap of $20.11 billion, a P/E of -174.86 and a beta of 1.32. The company has a 50-day moving average of $92.26 and a two-hundred-day moving average of $96.96. The company has a leverage ratio of 146.87, a current ratio of 0.99 and a quick ratio of 0.99.
Live Nation Entertainment (NYSE:LYV – Get Ratings ) last reported its earnings results on Thursday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.13. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $3.92 billion. The company posted earnings of ($0.90) per share for the same period last year. Live Nation Entertainment's revenue grew 669.9% year over year. equities analysts forecast that Live Nation Entertainment, Inc. will post 0.4 earnings per share for the year to date. Analysis updates and downloads
LYV research has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on shares of Live Nation Entertainment from $115.00 to $110.00 and gave the company an equal weight rating in a report on Thursday, June 2nd. Citigroup boosted their target price on shares of Live Nation Entertainment from $93.00 to $100.00, giving the company a neutral rating in a report on Monday, August 8th. Benchmark boosted their target price on shares of Live Nation Entertainment to $140.00 in a report on Monday, August 15th. Macquarie upgraded shares of Live Nation Entertainment from a “neutral” rating to an “outperform” rating in a report on Tuesday, July 5th and cut their price target for the company from $117.00 to $105.00. Finally, TheStreet upgraded shares of Live Nation Entertainment from a “d+” rating to a “c-” rating in a report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $121.10, based on data from MarketBeat.
Institutional investors protest against Live Nation Entertainment
Hedge funds have recently modified their holdings. First Horizon Advisors Inc. grew its position in shares of Live Nation Entertainment by 505.9% during the first quarter. Premier Horizon Advisors Inc. now owns 206 shares of the company’s stock valued at $25,000 after buying an additional 172 shares during the last quarter. Fieldpoint Private Securities LLC grew its position in Live Nation Entertainment by 357.1% during the second quarter. Fieldpoint Private Securities LLC now owns 320 shares of the company’s stock valued at $26,000 after buying an additional 250 shares during the last quarter. Tortise Investment Management LLC increased its position in Live Nation Entertainment by 274.4% during the second quarter. Tortoise Investment Management LLC now owns 337 shares of the company’s stock valued at $28,000 after buying an additional 247 shares during the last quarter. CX Institutional purchased a new position in Live Nation Entertainment during the second quarter valued at approximately $31,000 Finally, FNY Investment Advisors LLC acquired a new position in Live Nation Entertainment during the first quarter valued at approximately $32,000. 71.08% of shares belong to institutional investors and hedge funds.
About Live Nation Entertainment
Live Nation Entertainment, Inc. is a live entertainment company. It operates through concert, ticketing and sponsorship and advertising divisions. The concert segment promotes live music events at owned or operated venues and at rented third-party venues; Management and operation of concert halls; organizing music festivals; create related content; and provides management and other services to artists.
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