Insider Selling: 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 company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Live Nation Entertainment Stock Up 1.7 %

Shares of LYV stock opened at $143.35 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The stock has a market cap of $33.31 billion, a P/E ratio of 52.70, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50 day simple moving average of $140.25 and a two-hundred day simple moving average of $124.17.

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

Analyst Upgrades and Downgrades

LYV has been the topic of several analyst reports. TD Cowen upped their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Macquarie upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Citigroup boosted their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Evercore ISI boosted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.00.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth $8,865,000. Mackenzie Financial Corp increased its stake in shares of Live Nation Entertainment by 655.9% in the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock worth $11,761,000 after purchasing an additional 78,807 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth $9,449,000. Neo Ivy Capital Management purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth $102,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth $334,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.