Key Points
- Live Nation EVP Michael Rowles sold 63,776 shares on May 8 at an average price of $164.24, for proceeds of about $10.47 million. After the sale, he still held 204,716 shares, cutting his ownership by 23.75%.
- LYV slipped 1.7% and opened at $162.91, while the company’s stock remains near the upper end of its 52-week range. It has a market cap of $38.37 billion and trades above both its 50-day and 200-day moving averages.
- Recent results were mixed: Live Nation posted a larger-than-expected loss of $1.85 per share, but revenue of $3.79 billion topped estimates and rose 12.1% year over year. Analyst sentiment remains broadly positive, with several firms raising price targets and the stock carrying a consensus Moderate Buy rating.
Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) EVP Michael Rowles sold 63,776 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company's stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Live Nation Entertainment Stock Down 1.7%
NYSE:LYV opened at $162.91 on Friday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 1.00 and a current ratio of 0.88. The company has a market cap of $38.37 billion, a PE ratio of -92.04 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25. The stock has a 50-day simple moving average of $157.51 and a 200 day simple moving average of $148.70.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.38 EPS for the current fiscal year.
Trending Headlines about Live Nation Entertainment
Here are the key news stories impacting Live Nation Entertainment this week:
Analyst Ratings Changes
Several analysts recently issued reports on the company. Susquehanna upped their target price on Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday. Citizens Jmp assumed coverage on Live Nation Entertainment in a report on Monday, March 30th. They set a "market outperform" rating and a $190.00 target price on the stock. Guggenheim upped their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Wolfe Research upped their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $187.75.
Read Our Latest Report on Live Nation Entertainment
Institutional Trading of Live Nation Entertainment
Institutional investors and hedge funds have recently bought and sold shares of the business. Leonteq Securities AG bought a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. bought a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. raised its stake in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after buying an additional 84 shares during the period. Elyxium Wealth LLC bought a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC bought a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $31,000. Institutional investors own 74.52% of the company's stock.
About Live Nation Entertainment
(
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.
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