Key Points
- Live Nation CAO Brian Capo sold 2,900 shares at an average price of $184, generating $533,600. His remaining stake fell 25.1% to 8,655 shares.
- Live Nation shares opened at $186.48, near their 52-week high of $189.24. The company recently beat quarterly earnings expectations, reporting $1.05 in EPS and $7.67 billion in revenue, up 9.4% year over year.
- Analysts remain broadly bullish, with 20 Buy ratings and four Holds and an average price target of $197.19. Institutional investors own 74.52% of the company’s stock.
Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) CAO Brian Capo sold 2,900 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Live Nation Entertainment Trading Up 1.0%
NYSE:LYV opened at $186.48 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The stock has a market cap of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12. 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 stock has a 50-day simple moving average of $180.63 and a 200-day simple moving average of $167.08.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.
Analyst Ratings Changes
LYV has been the subject of several recent analyst reports. Zacks Research upgraded shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 17th. Guggenheim upped their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Wells Fargo & Company lifted their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Sanford C. Bernstein boosted their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $197.19.
Read Our Latest Analysis on Live Nation Entertainment
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of LYV. California State Teachers Retirement System increased its stake in Live Nation Entertainment by 19,122.8% in the second quarter. California State Teachers Retirement System now owns 44,334,776 shares of the company's stock valued at $8,118,141,000 after purchasing an additional 44,104,140 shares during the period. Bank of America Corp DE acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $1,221,398,000. Canada Pension Plan Investment Board purchased a new position in shares of Live Nation Entertainment during the second quarter worth about $859,018,000. Norges Bank acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $285,924,000. Finally, Sachem Head Capital Management LP acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $173,380,000. 74.52% of the stock is owned by hedge funds and other institutional investors.
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.
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