Key Points
- CFO Joe Berchtold sold 93,537 shares for about $16.73 million, reducing his position by 9.4%; he retained 901,617 shares worth approximately $161.2 million after the sale.
- Live Nation reported quarterly EPS of $1.69, beating the $1.50 consensus, while revenue of $10.11 billion also topped estimates and rose 18.9% year over year.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $203.14; shares traded at $178.32 on Friday.
Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) EVP John Hopmans sold 11,133 shares of the business's stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $180.50, for a total value of $2,009,506.50. Following the sale, the executive vice president directly owned 163,299 shares of the company's stock, valued at $29,475,469.50. This represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Live Nation Entertainment Trading Down 1.0%
Live Nation Entertainment stock traded down $1.82 during trading hours on Friday, reaching $178.32. 3,529,123 shares of the company's stock traded hands, compared to its average volume of 2,634,714. The firm has a market capitalization of $42.03 billion, a price-to-earnings ratio of -1,048.94 and a beta of 1.15. The company has a debt-to-equity ratio of 6.64, a quick ratio of 0.95 and a current ratio of 0.95. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The firm's 50 day moving average is $172.81 and its 200-day moving average is $168.28.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.69 EPS for the quarter, topping the consensus estimate 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 company had revenue of $10.11 billion during the quarter, compared to analysts' expectations of $9.60 billion. During the same quarter in the previous year, the company earned $0.73 EPS. Live Nation Entertainment's revenue was up 18.9% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.
Recent Live Nation Entertainment Headlines
Here are a few of the latest headlines about LYV:
Wall Street Analyst Weigh In
LYV has been the topic of a number of recent research reports. Guggenheim raised 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. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, October 19th. Roth Capital set a $208.00 price target on Live Nation Entertainment in a research note on Friday, July 31st. Susquehanna reduced their price target on Live Nation Entertainment from $187.00 to $183.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 20th. Finally, Oppenheimer lifted their price objective on Live Nation Entertainment from $210.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 10th. Twenty research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.14.
Read Our Latest Report on LYV
Institutional Trading of Live Nation Entertainment
Hedge funds have recently modified their holdings of the company. Burkett Financial Services LLC bought a new position in Live Nation Entertainment during the 2nd quarter worth approximately $26,000. Kilter Group LLC acquired a new position in Live Nation Entertainment during the second quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new position in Live Nation Entertainment during the second quarter valued at approximately $27,000. Transamerica Financial Advisors LLC bought a new stake in Live Nation Entertainment in the second quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Live Nation Entertainment in the second quarter valued at approximately $32,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Live Nation Entertainment Company Profile
(
Get Free Report)
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.
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