Live Nation Entertainment, Inc. (NYSE:LYV) CEO Michael Rapino sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $46.28, for a total transaction of $3,239,600.00. Following the transaction, the chief executive officer now directly owns 115,277 shares in the company, valued at $5,335,019.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Michael Rapino also recently made the following trade(s):

  • On Friday, December 1st, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.59, for a total transaction of $9,573,900.00.
  • On Wednesday, November 15th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $44.93, for a total transaction of $3,145,100.00.
  • On Friday, November 17th, Michael Rapino sold 210,000 shares of Live Nation Entertainment stock. The shares were sold at an average price of $45.14, for a total transaction of $9,479,400.00.
  • On Friday, November 10th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $44.93, for a total transaction of $3,145,100.00.
  • On Wednesday, November 8th, Michael Rapino sold 70,000 shares of Live Nation Entertainment stock. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00.

Shares of Live Nation Entertainment, Inc. (NYSE LYV) traded down $0.68 during mid-day trading on Friday, hitting $44.70. 1,892,012 shares of the company were exchanged, compared to its average volume of 1,438,653. The stock has a market cap of $9,240.00, a PE ratio of 2,320.50 and a beta of 1.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. Live Nation Entertainment, Inc. has a 12 month low of $26.41 and a 12 month high of $46.99.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.18 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its stake in Live Nation Entertainment by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 196,507 shares of the company’s stock worth $8,558,000 after purchasing an additional 6,897 shares in the last quarter. California Public Employees Retirement System lifted its stake in Live Nation Entertainment by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 452,575 shares of the company’s stock worth $19,710,000 after purchasing an additional 21,135 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $2,495,000. Janus Henderson Group PLC lifted its stake in Live Nation Entertainment by 789.0% in the 3rd quarter. Janus Henderson Group PLC now owns 385,122 shares of the company’s stock worth $16,772,000 after purchasing an additional 341,802 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in Live Nation Entertainment by 35.6% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 751,380 shares of the company’s stock worth $32,720,000 after purchasing an additional 197,118 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

LYV has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Stephens reiterated an “overweight” rating and set a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Friday, August 11th. Jefferies Group reissued a “buy” rating and set a $42.00 target price on shares of Live Nation Entertainment in a research report on Monday, October 16th. Finally, Macquarie reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average price target of $42.86.

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About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Insider Buying and Selling by Quarter for Live Nation Entertainment (NYSE:LYV)

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