Live Nation Entertainment (NYSE:LYV) CEO Michael Rapino Sells 195,578 Shares of Company Stock

Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 195,578 shares of the stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $181.03, for a total transaction of $35,405,485.34. Following the sale, the chief executive officer owned 4,188,167 shares in the company, valued at approximately $758,183,872.01. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Live Nation Entertainment Stock Performance

NYSE:LYV traded down $1.36 during mid-day trading on Friday, hitting $178.78. 2,093,568 shares of the company traded hands, compared to its average volume of 2,544,795. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 6.64. The firm has a market cap of $42.14 billion, a price-to-earnings ratio of -1,049.63 and a beta of 1.15. The stock’s fifty day moving average price is $172.79 and its 200-day moving average price is $168.12. 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 released its quarterly earnings results on Thursday, November 5th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Live Nation Entertainment had a net margin of 0.38% and a return on equity of 55.62%. The business had revenue of $10.11 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the business earned $0.73 EPS. The company’s revenue was up 18.9% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of a number of analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Live Nation Entertainment in a report on Thursday, October 1st. Weiss Ratings upgraded Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Deutsche Bank reissued a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Cfra downgraded Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. Finally, BTIG Research reissued a “buy” rating on shares of Live Nation Entertainment in a report on Thursday. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.14.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $1,221,398,000. Canada Pension Plan Investment Board bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth $859,018,000. Bessemer Group Inc. lifted its holdings in shares of Live Nation Entertainment by 25.8% in the 1st quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock worth $353,690,000 after acquiring an additional 475,373 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Live Nation Entertainment by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock valued at $212,502,000 after buying an additional 143,432 shares during the last quarter. Finally, Findlay Park Partners LLP bought a new position in Live Nation Entertainment in the second quarter worth $195,781,000. Institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc. is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events. The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.