Key Points
- Director Jeffrey Hinson sold 944 shares on March 10 at an average price of $165.87 for a total of $156,581.28, trimming his stake by 1.93% to 48,030 shares (worth about $7.97M).
- Live Nation shares were trading down roughly 2.9% to $155.73, with a market cap of $36.57B, a negative P/E, and 50-/200-day moving averages near $151.
- The company reported Q4 EPS of ($1.06), missing estimates by $0.06 while revenue beat at $6.31B, and analysts hold a consensus Moderate Buy with an average target of $184.40.
Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) Director Jeffrey Hinson sold 944 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the sale, the director directly owned 48,030 shares of the company's stock, valued at $7,966,736.10. This represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Live Nation Entertainment Trading Down 2.9%
NYSE:LYV traded down $4.59 during midday trading on Friday, hitting $155.73. The stock had a trading volume of 1,431,966 shares, compared to its average volume of 3,015,689. The stock has a 50-day moving average of $151.17 and a 200 day moving average of $150.50. The company has a market capitalization of $36.57 billion, a price-to-earnings ratio of -649.45 and a beta of 1.11. Live Nation Entertainment, Inc. has a one year low of $113.20 and a one year high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.Live Nation Entertainment's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Clearstead Trust LLC raised its stake in shares of Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company's stock worth $25,000 after acquiring an additional 136 shares in the last quarter. Leonteq Securities AG purchased a new position in Live Nation Entertainment in the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth $26,000. Ameriflex Group Inc. lifted its holdings in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 74.52% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on LYV. Oppenheimer reissued an "outperform" rating and set a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Wall Street Zen upgraded shares of Live Nation Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Evercore reissued an "outperform" rating and set a $198.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Roth Mkm restated a "buy" rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Rothschild & Co Redburn raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and increased their target price for the company from $166.00 to $193.00 in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $184.40.
Read Our Latest Stock Report on LYV
Live Nation Entertainment Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
