Live Nation Entertainment (NYSE:LYV) CAO Brian Capo Sells 2,900 Shares of Stock

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

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $186.48 on Wednesday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12. The firm’s 50 day moving average price is $180.63 and its 200-day moving average price is $167.08. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of LYV. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $25,000. Burkett Financial Services LLC purchased a new stake in shares of Live Nation Entertainment during the second quarter worth approximately $26,000. Kilter Group LLC acquired a new stake in Live Nation Entertainment in the second quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new position in Live Nation Entertainment in the second quarter worth approximately $27,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LYV. Guggenheim increased their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Morgan Stanley raised their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Finally, Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Company Profile

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.