Live Nation Entertainment, Inc. (NYSE:LYV) Director James S. Kahan Purchases 4,500 Shares

Live Nation Entertainment, Inc. (NYSE:LYV) Director James S. Kahan bought 4,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average cost of $61.54 per share, for a total transaction of $276,930.00. Following the transaction, the director now owns 82,821 shares of the company’s stock, valued at $5,096,804.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NYSE LYV traded up $0.49 on Friday, reaching $63.16. The stock had a trading volume of 1,656,066 shares, compared to its average volume of 1,168,510. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -701.78 and a beta of 1.19. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.49. Live Nation Entertainment, Inc. has a 12-month low of $46.02 and a 12-month high of $73.71. The stock has a fifty day moving average price of $67.37 and a two-hundred day moving average price of $67.46.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, October 31st. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08). Live Nation Entertainment had a net margin of 0.61% and a return on equity of 4.96%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the previous year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.15 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of LYV. KAMES CAPITAL plc increased its position in shares of Live Nation Entertainment by 23.2% during the second quarter. KAMES CAPITAL plc now owns 29,037 shares of the company’s stock worth $1,929,000 after acquiring an additional 5,474 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Live Nation Entertainment by 3.5% during the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 122,842 shares of the company’s stock worth $8,138,000 after acquiring an additional 4,150 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Live Nation Entertainment by 25.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 82,269 shares of the company’s stock worth $5,450,000 after acquiring an additional 16,604 shares during the period. IFM Investors Pty Ltd increased its position in shares of Live Nation Entertainment by 3.1% during the second quarter. IFM Investors Pty Ltd now owns 9,153 shares of the company’s stock worth $606,000 after acquiring an additional 276 shares during the period. Finally, Gateway Investment Advisers LLC increased its position in shares of Live Nation Entertainment by 6.1% during the second quarter. Gateway Investment Advisers LLC now owns 68,746 shares of the company’s stock worth $4,554,000 after acquiring an additional 3,937 shares during the period. 68.99% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on Live Nation Entertainment in a research report on Tuesday, October 8th. They issued an “equal weight” rating and a $75.00 target price on the stock. Jefferies Financial Group set a $84.00 target price on Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, October 25th. Guggenheim set a $84.00 target price on Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, ValuEngine raised Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $73.33.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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